Admitting New Partner With Bonus L. Bowers and V. Lipscomb are partners in Elegant Event Consultants. Bowers and Lipscomb share income equally. M. Ortiz will be admitted to the partnership. Prior to the admission, equipment was revalued downward by $12,000. The capital balances of each partner are $100,000 and $140,500, respectively, prior to the revaluation. a. Provide the journal entry for the asset revaluation. If an amount box does not require an entry, leave it blank. fill in the blank 427a9d0db013fcb_2 fill in the blank 427a9d0db013fcb_3 fill in the blank 427a9d0db013fcb_5 fill in the blank 427a9d0db013fcb_6 fill in the blank 427a9d0db013fcb_8 fill in the blank 427a9d0db013fcb_9 b. Provide the journal entry for Ortizs admission under the following independent situations: 1. Ortiz purchased a 20% interest for $49,000. If an amount box does not require an entry, leave it blank. fill in the blank 34a779022006070_2 fill in the blank 34a779022006070_3 fill in the blank 34a779022006070_5 fill in the blank 34a779022006070_6 fill in the blank 34a779022006070_8 fill in the blank 34a779022006070_9 fill in the blank 34a779022006070_11 fill in the blank 34a779022006070_12 2. Ortiz purchased a 30% interest for $123,000. If an amount box does not require an entry, leave it blank. fill in the blank 56376afc3fd6074_2 fill in the blank 56376afc3fd6074_3 fill in the blank 56376afc3fd6074_5 fill in the blank 56376afc3fd6074_6 fill in the blank 56376afc3fd6074_8 fill in the blank 56376afc3fd6074_9 fill in the blank 56376afc3fd6074_11 fill in the blank 56376afc3fd6074_12