Mo$,$ Lu$,$ and Barb formed the MLB Partnership by making investments of $$67,500,$ $$262,500,$ and $$420,000,$ respectively. They predict annual partnership net income of $$450,000$ and are considering the following alternative plans of sharing income and loss: $($a$)$ equally; $($b$)$ in the ratio of their initial capital investments; or $($c$)$ salary allowances of $$80,000$ to Mo$,$ $$60,000$ to Lu$,$ and $$90,000$ to Barb; interest allowances of $10\%$ on their initial capital investments; and the remaining balance shared as follows: $20\%$ to Mo$,40\%$ to Lu$,$ and $40\%$ to Barb.

$3.$ Prepare the December $31$ journal entry to close Income Summary assuming they agree to use plan c and that net income is $$209,000.$ Mo$,$ Lu$,$ and Barb withdraw $$34,000,$ $$48,000,$ and $$64,000,$ respectively, at year$-$end. Also close the withdrawals accounts.