Question 4 Latte invested $85,000 and Espresso invested $105,000 in a partnership and agreed to share income and losses by allowing a $36,000 annual salary allowance to Latte and an $21,000 annual salary allowance to Espresso. As well, each partner is to receive a share of profit equal to a 12% return on capital investments, and the balance is to be divided 1/3 to Latte and 2/3 to Espresso. Profit earned for the period is $135,000. Prepare the journal entry to allocate the profit to the partners