Question Current Attempt in Progress Coburn (beginning capital, $57,000) and Webb (beginning capital S 87,000) are partners. During 2022, the partnership earned net income of $66, 000, and Coburn made drawings of $17, 000 while Webb made drawings of $23, 000 (c) Assume the partnership income- sharing agreement calls for income to be divided with a salary of $37, 000 to Cobürn and $32.000 to Webb, interest of 11% on beginning capital, and the remainder divided 50%-50%, Prepare the journal entry to record the allocation of net income. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) \table[[Account Titles and Explanation, Debit]] eTextbook and Media Attempts: 0 of 3 used (d)
Question Current Attempt in Progress Coburn (beginning capital, $57,000) and Webb (beginning capital S 87,000) are partners. During 2022, the
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