Problem 11-6B Partnership entries, profit allocation, withdrawal of a partner Lo2, 03, 4 Help Me SOLVE IT CHECK FIGURES: 1a. Cr. Harris: $ 56,000; 1b. Cr. Davis: $ 110,600; 1c. Cr. Harris: $ 157,500 On November 1, 2020, Harris, Davis, and Tallis formed Restore, a home renovation business, by contributing $ 56,000 in cash, $ 91,000 of equipment, and a truck worth $ 42,000, respectively. The partners agreed to share profits and losses as follows: Davis and Tallis were to receive an annual salary allowance of $ 196,000 each and any remaining profit or loss was to be shared 5: 2: 3. On October 31, 2021, the partnership's first year - end, the Income Summary account had a debit balance of $ 35,000. On November 1, 2021, Harris withdrew from the partnership and received $ 7,000 from the partnership. Required 1. Prepare journal entries for the following dates: a. November 1, 2020 b. October 31, 2021 c. November 1, 2021 2. Calculate the balance in each partner's capital account immediately after the November 1, 2021, entry.