The appropriate format of the December 31, 2010 closing entry for John & Hope Limited Liability Partnership, whose two partners had withdrawn their salaries from the partnership during the year is: 
Definitions:
Ordinary Annuity
Regular payments of the same amount made at fixed intervals, where interest is added to the total at the end of each period.
Periodic Payment
Payments that are made regularly at set intervals, such as monthly or annually, often seen in loans and annuities.
Ordinary Annuity
A pattern of comparable payouts at the conclusion of adjacent periods within a set term.
Periodic Payment
Regular payments made over a prescribed time frame, often related to loans or annuities.
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