S. Pellah (beginning capital, $80,000) and M. Berry (beginning capital $120,000) are partners. During 2020 the partnership earned net income of $90,000, and Pellah made drawings of $24,000 while Berry made drawings of $32,000.

Assume the partnership income-sharing agreement calls for income to be divided 40% to Pellah and 60% to Berry. Prepare the journal entry to record the allocation of net income. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
Berry, Capital Income Summary Cash Pellah, Capital Salaries Expense Drawings
Pellah, Capital Income Summary Berry, Capital Cash Salaries Expense Drawings
Cash Pellah, Capital Berry, Capital Salaries Expense Drawings Income Summary

Assume the partnership income-sharing agreement calls for income to be divided with a salary of $40,000 to Pellah and $35,000 to Berry, with the remainder divided 40% to Pellah and 60% to Berry. Prepare the journal entry to record the allocation of net income. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
Pellah, Capital Drawings Income Summary Cash Berry, Capital Salaries Expense
Berry, Capital Pellah, Capital Salaries Expense Cash Drawings Income Summary
Drawings Income Summary Cash Pellah, Capital Salaries Expense Berry, Capital

Assume the partnership income-sharing agreement calls for income to be divided with a salary of $50,000 to Pellah and $45,000 to Berry, interest of 10% on beginning capital, and the remainder divided 50%-50%. Prepare the journal entry to record the allocation of net income. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
Drawings Pellah, Capital Income Summary Berry, Capital Cash Salaries Expense
Salaries Expense Income Summary Pellah, Capital Drawings Berry, Capital Cash
Berry, Capital Drawings Income Summary Cash Salaries Expense Pellah, Capital

Compute the partners ending capital balances under the assumption in part (c).

		Ending capital
Pellah		$
Berry		$