The Fig & Olive Co. reports net income of $24,000. Interest allowances are Fig $3,000 and Olive $5,000; partner salary allowances are Fig $18,000 and Olive $10,000 and the remainder is shared equally Instructions Indicate the division of net income to each partner, and prepare the entry to distribute the net income. 1 - E 2? Fig. Olive TO Salary allowance Interest allowance on partners' capital Total salaries and interest Remaining income Fig Olive Total remainder Total division of net income The entry to record the division of net income is: 0 In BigEasy Co., capital balances are Adrienne $60,000 and Dino $75,000. The partners share income equally. Javier is admitted to the firm with a 40% interest by an investment of cash of $85,000. Journalize the admission of Javier. 1 A = = % Journal entry