2016. The Hoon the Problem 1-4 R, S, and T Partne January 1, 2016 $100,000; S. $14 arrangement provided for 000 000 000 000 Annual salary capital 500 Partnership was organized and began operations on 2016, with the following capital balances: R S. $140,000; 1, $160,000. The income sharing gement provided for the following: R $80,000 $120,000 $100,000 rest on beginning 6% 6% 69% 900 Residual profit and loss 25% nual salaries to be recognized as partnership expenses and to be withdrawn in cash. For the fiscal year ended December 31, 2016, R, S, and T Partnership had income of $360,000 before recognition of salaries expense, and the partners withdraw their authorized salaries in cash. VE Required: Prepare journal entries (omit explanations) for R, S, and T Partnership on December 31, 2016. ue