On January 5, 2014, Frank Lovens and Kevin Smith formed a partnership Frank Levens contributed $130,000 cash and Kevin Smith Ci contributed a small building worth $120,000. Also the partnership assumed Kevin Smith's $10,000 long-term note payable associated with the building The partners agreed to share profits using a 2.3 ratio On September 17 Frank Levons withdrew $31,000 and Kevin Smith withdrew $30,000. After the adjusting entries and the closing entnes to the revenue and expenso accounts, the income Summary account had a debit Exa balance of 573,000 Test a) Prepare general journal entries for each of the following Test 1 To record the initial capital investments of the partners 2. To record the withdrawals of the partners Test 3. The December 31 closing of the income summary account 4. The December 31 ciosing of the withdrawals accounts Test Enter the numbers above as the explanation and the dates in the format odimmm (16.15 Jan) Test General Journal Page Gu2 Date Account Explanation FlDebit Credit Test Test Leave Enter the numbers above as the explanation, and the dates in the format ad mmm (ie 15/Jan) General Journal Page GJ2 Date Account Explanation F Debit Credit kal es est est TI est 1 Test Test Test b) Enter the balance of the partners' capital accounts as of the end of 2014 Balance of Frank Levens, Capital Balance of Kevin Smith, Capital ave