Problem 12-1A Allocating partnership income L.O. P2 [The following information applies to the questions displayed below.] Kim Ries, Tere Bax, and Josh Thomas invested $60,000, $76,000, and $84,000, respectively, in a partnership. During its first calendar year, the firm earned $362,700. Prepare the entry to close the firm?s Income Summary account as of its December 31 year-end and to allocate the $362,700 net income to the partners under each of the following separate assumptions: references 1.value: 2.00 points Problem 12-1A Part 1 Required: (1) The partners have no agreement on the method of sharing income and loss. (Omit the "$" sign in your response.) Date General Journal Debit Credit Dec. 31 eBook Linkreferences 2.value: 2.00 points Problem 12-1A Part 2 (2) The partners agreed to share income and loss in the ratio of their beginning capital investments. (Do not round intermediate calculations and round your final answers to nearest dollar amount. Omit the "$" sign in your response.) Date General Journal Debit Credit Dec. 31 eBook Linkreferences 3.value: 2.00 points Problem 12-1A Part 3 (3) The partners agreed to share income and loss by providing annual salary allowances of $32,000 to Ries, $27,000 to Bax, and $39,000 to Thomas; granting 10% interest on the partners? beginning capital investments; and sharing the remainder equally. (Omit the "$" sign in your response.) Date General Journal Debit Credit Dec.31