Please assist in all parts.

In the early part of 2021, the partners of Hugh, Jacobs, and Thomas sought assistance from a local accountant. They had begun a new business in 2020 but had never used an accountant's services. Hugh and Jacobs began the partnership by contributing $160,000 and $110,000 in cash, respectively. Hugh was to work occasionally at the business, and Jacobs was to be employed full-time. They decided that year-end profits and losses should be assigned as follows: Each partner was to be allocated 10 percent interest computed on the beginning capital balances for the period. A compensation allowance of $8,000 was to go to Hugh with a $27,000 amount assigned to Jacobs. Any remaining income would be split on a 4:6 basis to Hugh and Jacobs, respectively. In 2020, revenues totaled $185,000, and expenses were $152,000 (not including the partners' compensation allowance). Hugh withdrew cash of $9,000 during the year, and Jacobs took out $14,000. In addition, the business paid $8,500 for repairs made to Hugh's home and charged it to repair expense. On January 1, 2021, the partnership sold a 20 percent interest to Thomas for $80,000 cash. This money was contributed to the business with the bonus method used for accounting purposes. Answer the following questions: c. What journal entries should the partnership have recorded on December 31, 2020? d. What journal entry should the partnership have recorded on January 1, 2021? 1 Record entry to reclassify payment made to repair personal residence. N 2 Record entry to close drawings accounts for 2020. 3 Record entry to close revenue and expense accounts for 2020. 4 Record the distribution of net income to partners. 1 Record the payment made by Thomas using the bonus method