On March 2, 2023, Zoe Johnson, Karen Jone, and Veronica Denner start a partnership to operate a personal coaching and lifestyle consulting practice for professional women. Zoe will focus on work-life balance issues, Karen on matters of style, and Veronica on health and fitness. They sign a partnership agreement to split profits in a 3:2:3 ratio for Zoe, Karen, and Veronica, respectively. The following are the transactions for Blossom Personal Coaching: 2023 Mar. 2 The partners contribute assets to the partnership at the following agreed amounts: Z. Johnson K. Jone V. Denner Cash $9,000 $6,000 $12,000 Furniture 10,200 Equipment 10,800 7.800 Total $19.800 $16,200 $19,800 They also agree that the partnership will assume responsibility for Karen's note payable of $3,000. Activate I Go to Settin Activate Wind Dec. 20 31 Zoe, Karen, and Veronica each withdraw $18,000 cash as a "year-end bonus." No other withdrawals were made during the year. Total profit for 2023 was $66,000. 2024 Jan. 5 6 Dec. 20 Zoe and Veronica approve Karen's request to withdraw from the partnership for personal reasons. They agree to pay Karen $9,000 cash from the partnership. Zoe and Veronica agree to change their profit-sharing ratio to 4:5, respectively. Zoe and Veronica withdraw $25,650 and $27,000 cash, respectively, from the partnership. 31 Total profit for 2024 was $74,250. Activate V Go to Setting 2025 Jan. 4 Zoe and Veronica agree to admit Dela Wilson to the partnership. Dela will focus on providing training in organizational skills to clients. Dela invests $18,600 cash for 25% ownership of the partnership. (a) Record the above transactions. For the profit recognized each year, calculate how it is to be allocated and record the closing of the Income Summary account. (Credit account titles are outomatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date 2023 Account Titles and Explanation Debit Credit Activate W Go to Settings (Invest assets in business.) Activate Windows Go to Settings to activate Window (Invest assets in business) (Invest assets in business.) !!! Activate Windows Go to Settings to activate Win (Record cash drawings.) Activate Windows Go to Settings to activate Win i 2024 (To record withdrawal of partner.) Activate Windows Go to Settings to actate W (To record cash drawings.) 2025 (To close Income Summary) Activate Windows Go to Settings to activate Windows