Total	Razul	Amy	Sheila
Net Income				$472,000
Salary of Partners				-143,100	$68,500	$53,000	$21,600
Interest on capital				-27,336	12,096	9,640	5,600
Profit distrubtued among partners				-$301,564	108,563	90,469	102,532
				$0	189,159	153,109	129,732
Withdrawals from capital					$23,800	$19,200	$0
Net Income					$165,359	$133,909	$129,732

using the above info:

f) Prepare the journal entries to record the distribution of net income and the closing of the withdrawals accounts. Assume revenues and expenses have been closed to the income summary account.

Date

Account Title and Explanation

Debit

Credit