On March 1, Eckert and Kelley formed a partnership. Eckert contributed $78,000 cash, and Kelley contributed land valued at $62,400 and a building valued at $92,400. The partnership also took Kelley's $68,000 long-term note payable associated with the land and building. The partners agreed to share income as follows: Eckert gets an annual salary allowance of $28,500, both get an annual interest allowance of 11% of their initial capital investment, and any remaining income or loss is shared equally. On October 20, Eckert withdrew $29,000 cash and Kelley withdrew $22,000 cash. First year income was $78,000.Determine the partners' shares of income, and then prepare journal entries to close Income Summary and the partners' withdrawals accounts. (Enter all allowances as positive values. Enter losses as negative values.) Allocation of Partnership Income Eckert Kelley Total Net Income Salary allowances 0 Balance of income Interest allowances 0 Balance of income Balance allocated equally 0 Balance of income $ 0 Shares of the partners 0 0Date General Journal Debit Credit Record the entry to close the partners' withdrawals accounts. Dec 31 Record the entry to close the income summary account. Dec 31