Rice, Hepburn, and DiMarco formed a partnership with Rice contributing $60,000, Hepburn contributing $50,000, and DiMarco contributing $40,000. Their partnership agreement called for the earnings division to be based on the ratio of capital investments. If the partnership had a net income of $75,000 for its first year of operation, how much would be credited to DiMarco's capital account? $20,000. 0 b $25,000 $30,000 0 $40,000 0 David and Daniel formed a partnership. David invested $12,000, cash; Daniel invested $7,000 cash and equipment with a fair value of $5,000. The proper entry to record this is to: debit Cash $19,000; debit Equipment $5,000; credit Capital $24,000. debit Cash $19,000; debit Equipment $5,000; credit Accounts Payable $24,000 debit Cash $19,000; debit Equipment $5,000; credit David's Capital $12,000; and credit Daniel's Capital $12,000. debit Cash $19,000; credit David's Capital $12,000; and credit Daniel's Capital $7,000 d artner A has a capital balance of $120,000; Partner B has a capital balance of $80,000, Partner Chas a capital balance of $100,000; Net income for the year totaled $36,000 and the partnership agreement includes a salary allowance of $7,000 for Partner A, $3,500 for Partner B, and $0 for Partner C and remaining income allocated as a percentage of capital. How much net income is allocated to Partner A? $6,752 $10,209 $8,039 $17,200