10.0. Abraham, Isaac, and Jacob each have a capital balance of $50,000.Abraham is very old and is retiring from the business. The partners agree to revalue the assets at current market value. A real-estate appraiser values the land at $140,000(book value is $100,000) the profit-loss ratio is 1:2:1. (a)Journalize the revaluation of the land on July 31and (b) payment of $60,000 to Abraham upon his retirement the same day.