Partnership accounting: Is the same as accounting for a sole proprietorship Is the same as accounting for a corporation Is the same as accounting for a sole proprietorship, except that separate capital and withdrawal accounts are kept for each partner None of these answers are correct d 'artner A has a capital balance of $120,000; Partner B has a capital balance of $80,000; Partner Chas a capital balance of $100,000; Net income for the year totaled $36,000 and the partnership agreement includes an interest allowance at 10% of their capital account balances and remaining income allocated as a percentage of capital. How much net income is allocated to Partner A? $9,600 $12,000 $14,400 d $16,000 Partnership accounting: Uses a capital account for each partner Uses withdrawals account for each partner Allocates net income & loss according to the partnership agreement. All of these answers are correct