In the early part of $2024,$ the partners of Hugh, Jacobs, and Thomas sought assistance from a local accountant. They had begun a new business in $2023$ but had never used an accountant$$s services.

Hugh and Jacobs began the partnership by contributing $$165,000$ and $$115,000$ in cash, respectively. Hugh was to work occasionally at the business, and Jacobs was to be employed full$-$time. They decided that year$-$end profits and losses should be assigned as follows:

Each partner was to be allocated $10$ percent interest computed on the beginning capital balances for the period.

A compensation allowance of $$10,000$ was to go to Hugh with a $$27,000$ amount assigned to Jacobs.

Any remaining income would be split on a $4$:$6$ basis to Hugh and Jacobs, respectively.

In $2023,$ revenues totaled $$190,000,$ and expenses were $$155,000($not including the partners$$ compensation allowance$).$ Hugh withdrew cash of $$9,000$ during the year, and Jacobs took out $$14,000.$ In addition, the business paid $$9,000$ for repairs made to Hugh$$s home and charged it to repair expense.

On January $1,2024,$ the partnership sold a $10$ percent interest to Thomas for $$48,000$ cash. This money was contributed to the business with the bonus method used for accounting purposes.

a$)$ Record entry to close revenue and expense accounts for $2023.$

b$)$ Record entry to close drawings accounts for $2023.$

c$)$Reclose revenue and expense accounts

d$)$Record entry to reclassify payment made to repair personal residence.

e$)$Record the payment made by Thomas using the bonus method.