The Prince-Robbins partnership has the following capital account balances on January 1. 2015: Prince is allocated 80 percent of all profits and losses with the remaining 20 percent assigned to Robbins after interest of 8 percent is given to each partner based on beginning capital balances On January 2. 2015. Jeffrey invests $46,000 cash for a 20 percent interest in the partnership This transaction is recorded by the goodwill method After this transaction. 8 percent interest is still to go to each partner Profits and losses will then be split as follows: Prince (50%). Robbins (30%). and Jeffrey (20%) In 2015. the partnership reports a net income of $18,000 Prepare the journal entry to record Jeffrey entrance into the partnership on January 2 2015 (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Determine the allocation of income at the end of 2015