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On June 1, 2023, Jill Bow and Aisha Adams formed a partnership to open a gluten-free commercial bakery, conts cash and $368,000 of equipment, respectively. The partnership also assumed responsibility for a $44,000 note with the equipment. The partners agreed to share profits as follows: Bow is to receive an annual salary allowanc are to receive an annual interest allowance of 10% of their original capital investments, and any remaining profit 40/60 (to Bow and Adams, respectively). On November 20, 2023, Adams withdrew cash of $104,000. At year-en Income Summary account had a credit balance of $420,000. On June 1,2024 , Peter Williams invested $124,000 the partnership for a 20% interest in equity. Required: 1. Prepare journal entries for the following dates. On June 1, 2023, Jill Bow and Aisha Adams formed a partnership to open a gluten-free commercial bakery, conts cash and $368,000 of equipment, respectively. The partnership also assumed responsibility for a $44,000 note with the equipment. The partners agreed to share profits as follows: Bow is to receive an annual salary allowanc are to receive an annual interest allowance of 10% of their original capital investments, and any remaining profit 40/60 (to Bow and Adams, respectively). On November 20, 2023, Adams withdrew cash of $104,000. At year-en Income Summary account had a credit balance of $420,000. On June 1,2024 , Peter Williams invested $124,000 the partnership for a 20% interest in equity. Required: 1. Prepare journal entries for the following dates

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