On February 20, 2014, Steve Moore and John Jarell formed a partnership Steve Moore contributed $140,000 cash and John Jarell contributed machmery worth $100.000 Also the partnership assumed John Jarell's $20,000 long-term note payable associated with the machinery The partners agreed to share profits equally. On October 13. Steve Moore willdier $49 000 and John Jarell withdrew $39,000 After the adjusting entries and the closing entries to the revenue and expense accounts, the Income Summary account had a debit balance of $67 000 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 (ie 15/Jan) General Joumal Page GJ2 Date Account/Explanation F Debit Credit + + + -- b) Enter the balance of the partners' capital accounts as of the end of 2014 Balance of Steve Moore, Capital Balance of John Jarell, Capital 24C Weather alert ENG 4:45 AM IN 2011/2012