On April 7, 2014, Carrie Ford and Andrew Martin formed a partnership Carrie Ford contributed $140,000 cash and Andrew Martin contributed automobiles wor partnership assumed Andrew Martin's $10,000 long-term note payable associated with the automobiles. The partners agreed to share profits using a 23 ratio Ford withdrew $32,000 and Andrew Martin withdrew $48,000 After the adjusting entries and the closing entries to the revenue and expense accounts, the Inco a debit balance of $88 000 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 Enter the numbers above as the explanation and the dates in the format dd/mmm (le 15/Jan) General Journal Page GJ2 IN Account/Explanation F Debit Credit Date + = + - + - b) Enter the balance of the partners' capital accounts as of the end of 2014 Balance of Carrie Ford Capital Balance of Andrew Martin Capital On April 7, 2014, Carrie Ford and Andrew Martin formed a partnership Carrie Ford contributed $140,000 cash and Andrew Martin contributed automobiles wor partnership assumed Andrew Martin's $10,000 long-term note payable associated with the automobiles. The partners agreed to share profits using a 23 ratio Ford withdrew $32,000 and Andrew Martin withdrew $48,000 After the adjusting entries and the closing entries to the revenue and expense accounts, the Inco a debit balance of $88 000 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 Enter the numbers above as the explanation and the dates in the format dd/mmm (le 15/Jan) General Journal Page GJ2 IN Account/Explanation F Debit Credit Date + = + - + - b) Enter the balance of the partners' capital accounts as of the end of 2014 Balance of Carrie Ford Capital Balance of Andrew Martin Capital