On June 1, 2020, Jill 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 receive an annual salary allowance of $158,000, both are to receive an annual interest allowance of 10% of their 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. Required: 1. Prepare journal entries for the following dates. a. June 1, 2020 View transaction list View journal entry worksheet No Date Date General Journal Gener Debit Credit b. November 20, 2020 View transaction list View journal entry worksheet Credit No 1 Date Nov 20, 2020 General Journal Aisha Adams, withdrawals Cash Debit 108,000 108, c. May 31, 2021 View transaction list View journal entry worksheet No General Journal Date May 31, 2021 Debit 460,00 1 Income summary d. June 1, 2021 View transaction list View journal entry worksheet 2. Calculate the balance in each partner's capital account immediately after the June 1, 2021, entry. Bow, capital Aisha Adams, capital Williams, capital $ $ $ 632,880 607,280 128,000