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On 01/01/2017 the capital balances in Toshiba company are Saki $130,000 and Turkic $120,000. In...

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Accounting

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On 01/01/2017 the capital balances in Toshiba company are Saki $130,000 and Turkic $120,000. In 2017 the partnership reports net income of $150,000. The income ratio provides for salary allowances of $60,000 for Saki and $50,000 to Turkic and the remainder in the ratio of 55%: 45%.the journal entry for income distribution is: O a Debit Income summary $150,000 and credit both Saki capital $82,500 and Turkic capital $67,500 O b. Debit both Saki capital $82,000 and Turkic capital $68,000 and credit Income summary $150,000 Oc. Debit Income summary $150,000 and credit both Saki capital $75,000 and Turkic capital $75,000 Od. Debit Income summary $150,000 and credit both Saki capital $82,000 and Turkic capital $68,000

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