On June $1,2023,$ Jill Bow and Aisha Adams formed a partnership to open a gluten$-$free commercial bakery, contributing $$292,000$ cash and $$384,000$ of equipment, respectively. The partnership also assumed responsibility for a $$52,000$ note payable associated with the equipment. The partners agreed to share profits as follows: Bow is to receive an annual salary allowance of $$162,000,$ both are to receive an annual interest allowance of $10\%$ of their original capital investments, and any remaining profit or loss is to be shared $40/60($to Bow and Adams, respectively$).$ On November $20,2023,$ Adams withdrew cash of $$112,000.$ At year$-$end, May $31,2024,$ the Income Summary account had a credit balance of $$500,000.$ On June $1,2024,$ Peter Williams invested $$132,000$ and was admitted to the partnership for a $20\%$ interest in equity.

Required:

Prepare journal entries for the following dates.

a$.$ June $1,2023$

Journal entry worksheets

a$.$june $1,2023$

b november $20,2023$

record the withdrawal by partner

c may $31,202$

Reford the closing of prifit to capital

d june,$2024$

reclrd the admission of willaims for a $20\%$ interest

$2.$ calculate the balance in each partner capital account inmediately after the june $1,2024$ entry

bow capital

aisha adma capital

williams capit