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Problem 11-5A Partnership entries, profit allocation, admission of a partner L02,3,4 CHECK FIGURES: c. Cr Bow: $245,200; Cr Amri: $134,800; d. Dr Amri: $48,000 On June 1, 2017, Jill Bow and Aisha Amri formed a partnership, to open a commercial gluten-free bak- ery, contributing $280,000 cash and s360,000 of equipment, respectively. Also, the partnership as sumed responsibility for a $40,000 note payable associated with the equipment. The partners agreed to share profits as follows: Bow is to receive an annual salary allowance of $150,000, both are to re- ceive an annual interest allowance of 8% of their original capital investments, and any remaining profit or loss is to be shared 40/60 (to Bow and Amri, respectively). On November 20, 2017, Amri with- drew cash of $100,000. At year-end, May 31, 2018, the Income Summary account had a credit balance of $380,000. On June 1, 2018, Peter Wilems invested $120,000 and was admitted to the partnership for a 20% interest in equity. Required 1. Prepare journal entries for the following dates: a. June 1, 2017 b. November 20, 2017 e. May 31, 2018 d. June 1, 2018 2. Calculate the balance in each partner's capital account immediately after the June 1,2018, entry