The Fig & Olive Co$.$ reports net income of $$25,700.$ Interest allowances are Fig $$3,600$ and Olive $$6,400$; partner salary allowances are

Fig $$20,000$ and Olive $$11,900$ and the remainder is shared equally.

Indicate the division of net income to each partner. $($If an amount reduces the account balance then enter with a negative sign

preceding the number e$.$g$.-15,000$ or parentheses e$.$g$.(15,000).)$

Prepare the entry to distribute the net income. $($Credit account titles are automatically indented when the amount is

entered. Do not indent manually. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

Credit