On June 1, 2020, Jill Bow and Aisha Adams formed a partnership to open a gluten free commercial bakery, contributing $296,000 cash and $392,000 of equipment, respectively. The partnership also assumed responsibility for a $56,000 note payable associated with the equipment. The partners agreed to share profits as follows Bow is to receive an annual salary allowance of $166,000, both are to receive an annual interest allowance of 5% of their original capital investments, and any remaining profit or loss is to be shared 40/60 (to Bow and Adams, respectivelyl On November 20, 2020 Adams withdrew cash of $116.000. At year end, May 31, 2021, the Income Summary account had a credit balance of $540,000. On June 1, 2021. Peter Williams invested $136,000 and was admitted to the partnership for a 20% interest in equity Required: 1. Prepare journal entries for the following dates. 2. June 1, 2020 View transaction list Journal entry worksheet Record the formation of partnership b. November 20, 2020 View transaction list Journal entry worksheet