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Question 2 (12 Points) On June 1, 2019, Lewis, Avis, and Snith decided to form a pamership by imesting $50000 ST0000, and $30,000, respectively The
Question 2 (12 Points) On June 1, 2019, Lewis, Avis, and Snith decided to form a pamership by imesting $50000 ST0000, and $30,000, respectively The partnership agreement stipulates the following 1 Each partner will receive an 10s imerest allowance os their initial ivestniere o Salary allowances so each parmer were as follows Lewis S6000 Avis-$5.000 Smih-$4.000o 3) Lewis, Avis. and Sih will share any remaising balance after the allowances EQUALLY If at the end of June, the parteership had a Net Income of $24,000, prepare the following a) A well-labeled schedule showing ench partner share of dhe net inccme. b) The journal entry so record cach partner share of the net ncome n Jne 0, 2019
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