Saved Jenkins, Willis, and Trent invested $252,000, $441,000, and $567,000, respectively, in a partnership. During its first year, the firm recorded profit of $639,000. Required: Prepare entries to close the firm's Income Summary account as of December 31 and to allocate the profit to the partners under each of the following assumptions: a. The partners did not produce any special agreement on the method of distributing profits. View transaction list b. The partners agreed to share profit and losses in the ratio of their beginning investments. mped View transaction list Journal entry worksheet > 1 ces Record to close income summary account. Note: Enter debits before credits. Debit Credit General Journal Date Dec 31 Next