Coburn (beginning capital, $60,000) and Webb (beginning capital $86,000) are partners. During 2017, the

Coburn (beginning capital, $60,000) and Webb (beginning capital $86,000) are partners. During 2017, the partnership earned net income of $74,000, and Coburn made drawings of $20,000 while Webb made drawings of $22,000.
Assume the partnership income-sharing agreement calls for income to be divided 45% to Coburn and 55% to Webb. Prepare the journal entry to record the allocation of net income. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
Cash    Income Summary    Coburn, Capital    Webb, Capital    Salaries Expense    Drawings
Drawings    Coburn, Capital    Income Summary    Webb, Capital    Cash    Salaries Expense
Drawings    Coburn, Capital    Income Summary    Salaries Expense    Webb, Capital    Cash