XYZ Cleaning Service is a partnership. Its two partners have beginning of year capital balances of: John $50,000 and Charlotte $100,000. Partnership net income is $180,000. The partnership agreement is silent as to division of income and loss. The December 31 closing entry to allocate net income to the partners would be:

Multiple Choice

• Income summary	180,000
  John, Capital		60,000
  Charlotte, Capital		120,000

• Income summary	180,000
  John, Capital		90,000
  Charlotte, Capital		90,000

• John, Capital	90,000
  Charlotte, Capital	90,000
  Income summary		180,000

• Net income	180,000
  John, Capital		60,000
  Charlotte, Capital		120,000

• Net income	180,000
  John, Capital		90,000
  Charlotte, Capital		90,000