Partnership Entries and Statement of Partnership Equity The capital accounts of Lorraine Grecco and Carrie Rosenfeld have balances of $75,000 and $53,000, respectively, on January 1, 20Y4, the beginning of the fiscal year. On March 10, Grecco invested an additional $8,000. During the year, Grecco and Rosenfeld withdrew $39,000 and $32,000, respectively, and net income for the year was $100,000. Revenues were $521,000, and expenses were $421,000. The articles of partnership make no reference to the division of net income. Question Content Area a. Journalize the entry to close the revenues and expenses. If an amount box does not require an entry, leave it blank. blank Revenues Revenues Expenses Expenses Lorraine Grecco, Capital Lorraine Grecco, Capital Carrie Rosenfeld, Capital Carrie Rosenfeld, Capital Question Content Area Journalize the entry to close the drawing accounts. If an amount box does not require an entry, leave it blank. blank Lorraine Grecco, Capital Lorraine Grecco, Capital Carrie Rosenfeld, Capital Carrie Rosenfeld, Capital Lorraine Grecco, Drawing Lorraine Grecco, Drawing Carrie Rosenfeld, Drawing Carrie Rosenfeld, Drawing Question Content Area b. Prepare a statement of partnership equity for the current year for the partnership of Grecco and Rosenfeld. If an amount is zero or a blank, enter in 0. Grecco and Rosenfeld Statement of Partnership Equity For the Year Ended December 31, 20Y4 Lorraine Grecco Carrie Rosenfeld Total Balances, January 1, 20Y4 $ fill in the blank 5c83b0f2f074fc9_1 $ fill in the blank 5c83b0f2f074fc9_2 $ fill in the blank 5c83b0f2f074fc9_3 Additional investment during the year fill in the blank 5c83b0f2f074fc9_4 fill in the blank 5c83b0f2f074fc9_5 fill in the blank 5c83b0f2f074fc9_6 Net income for the year fill in the blank 5c83b0f2f074fc9_7 fill in the blank 5c83b0f2f074fc9_8 fill in the blank 5c83b0f2f074fc9_9 Withdrawals during the year fill in the blank 5c83b0f2f074fc9_10 fill in the blank 5c83b0f2f074fc9_11 fill in the blank 5c83b0f2f074fc9_12 Balances, December 31, 20Y4 $ fill in the blank 5c83b0f2f074fc9_13 $ fill in the blank 5c83b0f2f074fc9_14 $ fill in the blank 5c83b0f2f074fc9_15