On April 5, 2014, George Hemphill and Sandra Castell formed a partnership. George Hemphill contributed $110,000 cash and Sandra Castell contributed automobiles worth $100,000. Also the partnership assumed Sandra Castell's $30,000 long-term note payable associated with the automobiles. The partners agreed to share profits using a 2:3 ratio. On September 15, George Hemphill withdrew $18,000 and Sandra Castell withdrew $40,000. After the adjusting entries and the closing entries to the revenue and expense accounts, the Income Summary account had a credit balance of $60,000. a) Prepare general journal entries for each of the following: 1. To record the initial capital investments of the partners. 2. To record the withdrawals of the partners. 3. The December 31 closing of the income summary account. 4. The December 31 closing of the withdrawals accounts. Page GJ2 Enter the numbers above as the explanation, and the dates in the format dd/mmm (ie. 15/Jan). General Journal Date Account/Explanation F Debit Credit 5/Apr 15/Sep 31/Dec 557 PM 15/Sep 31/Dec 31/Dec b) Enter the balance of the partners' capital accounts as of the end of 2014. Balance of George Hemphill, Capital: Balance of Sandra Castell, Capital