On February 1, 2023. Tessa Williams and Audrey Xie formed a partnership in Ontario. Williams contributed $93,000 cash and Xle contributed land valued at $133,000 and a small building valued at $193,000. Also, the parthership assumed responsibility for Xie's $143,000 long-term note payable associated with the land and buliding. The partners agreed to share profit or loss as follows: Williams is to receive an annual salary allowance of $103,000. both are to receive an annual interest allowance of 15% of their original capital investments, and any remaining profit or loss is to be shared equally. On November 20,2023 . Willams withdrew cash of $73,000 and Xie withdrew $58,000, After the adjusting entries and the closing entries to the revenue and expense accounts, the Income Summary account had a credit balance of $173,000. 1. Present general journal entries to record the initial capital investments of the partners, their cash withdrawals, and Required: the December 31 closing of the income Summary and withdrawals accounts