Problem 11-6A Partnership entries, profit allocation, admission of a partner L02, 3, 4 On June 1, 2020.Jill Bow and Aisha Adams formed a partnership to open a gluten free commercial bakery, contributing $291000 cash and $382.000 of equipment, respectively. The partnership also assumed responsibility for a $51000 note payable associated with the equipment. The partners agreed to share profits as follows: Bow is to receive an annual salary allowance of $161,000 both are to receive an annual interest allowance of 5% of their original capital investments, and any remaining profit or loss is to be shared 40/60 (to Bow and Adams, respectively). On November 20, 2020. Adams withdrew cash of $111.000. A year-end. May 31, 2021, the income Summary account had a credit balance of $490,000. On June 1, 2021. Peter Williams invested $131,000 and was admitted to the partnership for a 20% interest in equity. Required: 1. Prepare journal entries for the following dates. June 1, 2020 View transaction ist Journal entry worksheet 1 Record the withdrawal by partner. Note: Enter debits before credits Debit Credit General Journal Date Nov 20, 2020 Vww.eneralama c. May 31, 2021 View transaction list Journal entry worksheet Record the admission of Williams for a 20% interest Note: Enter debits before credits Debit Credit General Journal Date June 01. 2021 View general journal Clear entry Record entry 2. Calculate the balance in each partner's capital account immediately after the June 1, 2021 entry. Bow, capital Aisha Adams, capital Williams, capital