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Question 4 (20 points] Travis Goodall, Carrie Ford, and Susan Montgomery invested $120,000, $90,000, and $90,000, respectively in a partnership. During its first year, the firm recorded a net income of $67,200. Prepare general journal entries to close the firm's Income Summary account as of December 31, 2015 and to allocate the net income/loss to the partners under each of the following unrelated assumptions. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). (a) The partners did not produce any special agreement on the method of sharing incomes. General Journal Account/Explanation Page Gj1 Credit Date F Debit (b) The partners agreed to share net incomes and losses in the ratio of their beginning investments. General Journal Account/Explanation Page Gj1 F Debit Credit Date (c) The partners agreed to share income by providing annual salary allowances of $18,000 to Travis Goodall, $13,500 to Carrie Ford, and $13,500 to Susan Montgomery, allowing 5% interest on the partners' beginning investments, and sharing the remainder equally. General Journal Account/Explanation Page Gj1 Credit Date F Debit