The Fig & Olive Co. reports net income of $24,400. Interest allowances are Fig $3,100 and...

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The Fig & Olive Co. reports net income of $24,400. Interest allowances are Fig $3,100 and Olive $5,400; partner salary allowances are Fig $18,900 and Olive $11,800 and the remainder is shared equally. Indicate the division of net income to each partner. (If an amount reduces the account balance then enter with a negative sign preceding the number eg.-15,000 or parentheses e.g. (15,000).) Salary allowance Interest allowance on partners' capital Total salaries and interest Remaining income Total division of net income tA $ tA $ Fig Division of Net Income 18900 $ EA 3100 22000 $ tA Olive Total 11800 $ 5400 17200 $ 30700 8500 39200 Prepare the entry to distribute the net income. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Q Search TLC LCLO B > The Fig & Olive Co. reports net income of $24,400. Interest allowances are Fig $3,100 and Olive $5,400; partner salary allowances are Fig $18,900 and Olive $11,800 and the remainder is shared equally. Indicate the division of net income to each partner. (If an amount reduces the account balance then enter with a negative sign preceding the number eg.-15,000 or parentheses e.g. (15,000).) Salary allowance Interest allowance on partners' capital Total salaries and interest Remaining income Total division of net income tA $ tA $ Fig Division of Net Income 18900 $ EA 3100 22000 $ tA Olive Total 11800 $ 5400 17200 $ 30700 8500 39200 Prepare the entry to distribute the net income. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Q Search TLC LCLO B >