Debra and Merina sell electronic equipment and supplies through their partnership. They wish to expand their computer lines and decide to admit Wayne to the partnership. They share income in a ratio of $3$:$2.$

Debra $ $200,000$

Merina $160,000$

Problem $15-11($Algo$)$ Part e

Required:

e$.$ Wayne directly purchases a $25$ percent interest by paying Debra $$96,000$ and Merina $$59,000.$ The land account is increased before Wayne is admitted.

Record the revaluation of land.