T-shirt design partnership. Alyssa Wall figures this T-shirt design business will help he . Additionally, Tizer and Wong have connections with many companies and can expa i More Info Each of the three partners contributes $30,000 cash to start up the WTW partnership. They agree to share profits in two steps. First, Tizer will receive $12,000 and Wong will receive $15,000 because they will do most of the graphic design work. Any remaining profits or losses will be shared 1:2:3, respectively for Wall, Tizer, and Wong. The business starts on January 1, 2019. On December 31, 2019, the business posted a loss of $21,000. Wall decides to withdraw from the partnership on December 31, 2019. Tizer and Wong agree to give Wall $19,500 for her equity interest. Print Done in CheckAnswer CP 12-40 (open response) Question Help Wall, Tizer, and Wong decide to form a T-shirt design partnership. Alyssa Wallfigures this T-shirt design business will help her other company, Outdoor Adventur Company, with any T-shirt design needs. Additionally, Tizer and Wong have connections with many companies and can expand and grow this new partnership i (Click the icon to view the additional information) Read the requirements To record partners' contribution of cash. Requirement 2. Journalize the allocation of the loss from the Income Summary account. (Record debits first, then credits. Select the explanation on the last line the journal entry table. Check your spelling carefully and do not abbreviate.) Date Debit Credit Dec. 31 Accounts and Explanation Wall, Capital Tizer, Capital Wong. Capital Income Summary To close Income Summary and allocate loss 21000 Choose from any list or enter any number in the input fields and then click Check Answer parts 2 remaining Clear All Check Answer a a 98 S