On June 1, 2023, Jill Bow and Aisha Adams formed a partnership to open a gluten-free commercial bakery, contributing $289,000 cash and \$378,000 of equipment, respectively. The partnership also assumed responsibility for a $49,000 note payable associated with the equipment. The partners agreed to share profits as follows: Bow is to receive an annual salary allowance of $159,000, 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 40160 (to Bow and Adams, respectively). On November 20,2023. Adams withdrew cash of $109,000. At year-end, May 31,2024 , the Income Summary account had a credit balance of $470,000. On June 1, 2024. Peter Williams invested $129.000 and was admitted to the partnership for a 20% interest in equity. Required: 1. Prepare journal entries for the following dates. a. June 1, 2023 b. November 20,2023 Journal entry worksheet Journal entry worksheet Record the closing of profit to capital. Notn: Enter debits before credits. Journal entry worksheet Record the admission of Williams for a 20% interest. Hotel thter debits before credits. 2. Calculate the balance in each partner's capital account immediately after the June 1,2024 , entry