Razul and Amy decided to start a partnership called SA Consulting on January 1, 2020. Each of them contributed a number of items to the partnership, which are listed below. All tangible assets are listed at their market value.
2020
	Razul			Amy
	Cash	$37,400		Cash		$55,100
	Equipment	188,400		Furniture		62,400
	Bank Loan	74,000		Accounts Payable		38,500
On March 1, Razul and Amy added a new partner to the business, Sheila. Sheila will contribute $78,200 and receive a 26% share of the business. Use the capital balances from January 1 to determine any bonuses. Assume the existing partners will split any bonus evenly.
During the year, Razul and Amy withdrew $18,400 and $12,400 respectively and the business reported a net income of $384,000. Their partnership agreement provided for sharing of net income (loss) on the following basis:
1. Salary of $51,400 is allocated to Razul, $47,200 to Amy, and $27,400 to Sheila.
2. Interest is allocated at 4% of each partner's opening capital balance.
3. Remainder is shared where Razul gets 35%, Amy gets 32%, and Sheila gets 33%.

a) Prepare the journal entries to record the contributions of each partner to start the partnership.
Date	Account Title and Explanation					Debit	Credit