Points: 0.46 of 2 >> On June 10, 2020, Steven Haener and Sarah Abels have agreed to pool their assets and form a partnership to be called H&A Distributing. They agree to share all profits equally and make the following initial investments Haener Abela Cash $ % Accounts receivable (net) Office furniture (net) 15,000 S 34,000 40,000 30,000 partnership activity 13,000 19.000 January 1, 2021 December 31 The partnership's reported net income was $260,000 for the year ended December 31, 2020 (Click on the icon to the partnership activity.) Haener and Abela agree to accept Myra Sammet into the partnership with a $165,000 investment for 40 percent of the business. The partnership agreement is amended to provide for the following sharing of profits and Josses Requited Requirement 1. Joumalize all the transactions for the partnership Record the June 10, 2020, opening entry (Record debits first, then credits. Explanations are not required. Round to Date Accounts Debit Credit June 10 Cash Office Furniture 45,000 59,000 Accounts Receivable (net) 47,000 Steven Haener, Capital 89,000 Sarah Abela, Capital 62,000 Record the December 31, 2020, entry to close the income summary account (Record debits first, then credits. Explan Etext pages 52F Clear 000 77 WEWE w Service Interest on end-of-period capital balance before allocation of income Balance of ratio of December 31, 2021 October 10, 2022 December 31, 2022 January 2, 2023 Haener Abela Sammet $ 140,000 $110,000 $ 100,000 9% 2 5% 5% 5 The partnership's reported net income was $465,000 Haener withdrew $88,000 cash from the partnership, and Abela withdrew $55,000 (Sammel did not make any withdrawals) The partnership's reported net income was $270,000 After a disagreement as to the direction in which the partnership should be moving, Sammet decided to withdraw from the partnership The throe partners agreed that Sammet could take cash of $443,414 in exchange for her equity in the partnership 9 Print Done Save - X ver ENG 132 PM US 9/17/2022