Question 4 [20 points] On February 20, 2014, Frank Levens and Jack Tasker formed a partnership Frank Levens contributed $120,000 cash and Jack Tasker contributed autornobiles worth $140,000 Also the partnership assumed Jack Tasker's $30,000 long-term not payable associated with the automobiles. The partners agreed to share profits using a 23 ratio on October 6, Frank Levens withdrew $17,000 and Jack Tasker withdrew $30,000. After the adjusting entries and the closing entries to the revenue and expense accounts, the Income Surnmary account had a debit balance of $59,000 a) Prepare general journal entries for each of the following: 1. To record the initial capital investments of the partners 2. To record the withdrawals of the partners 3. The December 31 closing of the income summary account. 4. The December 31 closing of the withdrawals accounts Enter the numbers above as the explanation, and the dates in the format dd/mmm (ie. 15/Jan) General Journal Date Account/Explanation F Debit Credit Page Gj2 + - + + - - di ENG 10-05 24-04-2021 O Type here to search Tita 1.lyryx.com/quiz-servlets/QuizServleticcid=11048 a Prepare yeneral Tourist emuestores o LITE TOOrg 1. To record the initial capital investments of the partners. 2. To record the withdrawals of the partners. 3. The December 31 closing of the income summary account. 4. The December 31 closing of the withdrawals accounts. Enter the numbers above as the explanation, and the dates in the format dd/mmm (ie. 15/Jan). General Journal Page GJ2 Date Account/Explanation F Debit Credit b) Enter the balance of the partners' capital accounts as of the end of 2014. Balance of Frank Levens, Capital: Balance of Jack Tasker, Capital