Required 1. Prepare the entry in journal form to record the investment of both p

Required 1. Prepare the entry in journal form to record the investment of both partners in the partnership.2. Determine the share of income for each partner in 2010 and 2011 under each of the following conditions:a. The partners agreed to share income equally.b. The partner failed to agree on an income-sharing arrangement.c. The partners agreed to share income according to the ratio of their original investments.d. The partners agreed to share income by allowing interest of 10 percent on their original investments and dividing the remainder equally.e. The partners agreed to share income by allowing salaries of $40000 for Rivera and $28000 for Bacon and dividing the remainder equally.f. The partners agreed to share income by paying salaries of $40000 to Rivera and $28000 to Bacon allowing interest of 9 percent on their original investment and dividing the remainder equally.3. What are some of factors that need to be considered in choosing the plan of partners income sharing among the options shown in requirement 2?