provide the note please

2 3. PARTNER'S CAPITAL Choose Exercise Number (1-5): Partnership Journal Entries--Lake and Bay started a partnership. Show the indicated entries. 4 1 5 6 2 7 8 3 Lake contributed cash of $40,000 and equipment with cost of $30,000 and fair market value of $26,000. 9 10 1 11 12 13 2 14 3 The income summary ends up with a credit balance of $90,000. Lake and Bay share profits equally. 15 16 17 0 1 0 18 2. Lake withdrew $5,000 cash from the partnership. 19 20 0 What is Lake's ending capital balance in the partnership? FREE SPACE FOR YOUR NOTES OR COMMENTS 21 22 23 24 25 26 27 28