On January 3, 2014, Tracy Regis and Adam Uppe formed a partnership. Tracy Regis contributed $100,000 cash and Adam Uppe contributed machinery worth $130,000. Also the partnership assumed Adam Uppe's $30,000 long-term note payable associated with the machinery. The partners agreed to share profits using a 1:4 ratio. On September 5, Tracy Regis withdrew $25,000 and Adam Uppe withdrew $13,000. After the adjusting entries and the closing entries to the revenue and expense accounts, the Income Summary account had a credit balance of $59,000. 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 Journal 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 Tracy Regis, Capital: Balance of Adam Uppe, Capital