On June 1, 2020, JIII Bow and Aisha Adams formed a partnership to open a gluten-free commercial bakery, contributing $288,000 cash and $376,000 of equipment, respectively. The partnership also assumed responsibility for a $48,000 note payable associated with the equipment. The partners agreed to share profits as follows: Bow is to recelve an annual salary allowance of $158,000, both are to receive an annual Interest allowance of 10% of thelr original capital Investments, and any remaining profit or loss is to be shared 40/60 (to Bow and Adams, respectively). On November 20, 2020, Adams withdrew cash of $108,000. At year-end, May 31, 2021, the Income Summary account had a credit balance of $460,000. On June 1, 2021, Peter Williams Invested $128,000 and was admitted to the partnership for a 20% Interest in equity. Requlred: 1. Prepare journal entries for the following dates. 8. June 1, 2020 b. November 20, 2020 View transaction list Journal entry worksheet