DE12-15 Return to the Green, Henry, and Isaac partnership balance sheet near the middle of page 480. Suppose Henry is retiring from the business and the partners agree to revalue the assets at their current market value. A real-estate appraiser issues his professional opinion that the current market value of the land is $150,000. The book values of all other assets approximate their current market value. Journalize

(a) the revaluation of the land.

(b) borrowing $90,500 on a note payable in order to pay Henry, and

(c) payment of $90.500 to Henry upon his retirement from the business on July 31.