Farrell and Jimmy enter into a partnership agreement on May 1, 2017. Farrell contributes $50,000 and Jimmy contributes $140,000 as their capital contributions. They decide to share profits and losses in the ratio of their respective capital account balances. The net income for the year ended December 31, 2017 is $60,000. Which of the following is the correct journal entry to record the allocation of profit? 
Definitions:
Objectives
Objectives refer to the specific, measurable goals individuals or organizations aim to achieve.
Benefit
An advantage, gain, or positive outcome derived from a specific action, decision, or product.
Satisfaction
A feeling of fulfillment or contentment that comes from achieving one's goals or meeting one's needs and desires.
Civilian Goods
Products and services intended for use by the general public rather than for military purposes.
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