Problem 3: Partners Coleen and Norlyn received a salary of P150,000 and P300,00, respectively, and share profit and losses in a 2:1 ratio, respectively. If the partnership suffered a P150,000 loss in 2019, prepare the journal entry to record the distribution of loss. Use the following account titles for your journal entries: Coleen Capital Coleen Drawing Norlyn Capital Norlyn Drawing Income Summary Account Title Debit Credit Coleen Drawing 150000

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