On January 1, 2020 partners Andrew Martin, Judith Grimm and Avery Wilson had capital balances of $27,000, $75,000 and $27,000 respectively. During 2020 the partners made the following investments: Andrew Martin, $140,000; Judith Grimm, $130,000; and Avery Wilson, $110,000. Also, Andrew Martin withdrew cash of $12,000, Judith Grimm withdrew $36,000 and Avery Wilson withdrew $45,000. The company has a December 31 year end. In addition, the following schedule shows how net loss is allocated

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a) Prepare the entry to close the income summary account. Enter an appropriate description and the date in the format dd/mmm (ie. 15/Jan).

b) Calculate the post-closing balance in each partners' capital account.