Gavin invested $41,000 in the Jason and Kelly Partnership for ownership equity of $41,000. Prior to the investment, land was revalued to a market value of $468,000 from a book value of $198,000. Jason and Kelly share net income in a 1:2 ratio.

a. Provide the journal entry for the revaluation of land. If an amount box does not require an entry, leave it blank.

		fill in the blank 4dee8ffd1fd8062_2	fill in the blank 4dee8ffd1fd8062_3
		fill in the blank 4dee8ffd1fd8062_5	fill in the blank 4dee8ffd1fd8062_6
		fill in the blank 4dee8ffd1fd8062_8	fill in the blank 4dee8ffd1fd8062_9

b. Provide the journal entry to admit Gavin.