b. Journalize the entry for Ortiz's admission under the following independent situations: 1. Ortiz purchased a 20% interest for $46,000, If an amount box does not require an entry, leave it blank. 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 $7,000. The capital balances of each partner are $91,500 and $127,500, respectively, prior to the revaluation. a. Journalize the entry for the asset revalustion. If an amount box does not require an entry, leave it blank. resans F Creck By Wirk 2. Ortiz purchased a 30% interest for $115,000. If an amount box does not require an entry, leave it blank