[The following information applies to the questions displayed below] Kara Ries, Tammy Bax, and Joe Thomas invested $46,000, $62.000, and $70000, respectively, in a partnership. During its first calendar year, the firm earned $333,600 Prepare the entry to close the firm's Income Summary account as of its December 31 year-end and to allocate the $333,600 net income to the partners under each of the following separate assumptions Required (1) The partners have no agreement on the method of sharing income and loss. Record the entry to close the income summary account assuming the partners have no agreement on the method of sharing income and loss. Note: Enter debits before credits. Date General Journal Debit Credit income summary Dec 31 333,600 Kara Ries, Capital Tammy Bax, Capital Joe Thomas, Capital Record entry Clear entry View general journal