Instructions Greg Thomas purchased one-half of lan Hamilton's interest in the Freidman and Hamilton partnership for $33,260. Prior to the investment, land was revalued to a market value of $134,000 from a book value of $78,000. Adam Freidman and lan Hamilton share not income equally. Hamilton had a capital balance of $28,100 prior to those transactions Required: On December 31, provide the journal entry for the revaluation of land." b. On December 31, provide the Joumal entry to admit Thomas "Refer to the chart of accounts for the exact wording of the account ones. CNOW journals do not use ines for journal explanations. Every ine on a journal page is used for debitor credit entries. CNOW Journals will automatically indent a credit only when a credit amount is entered. Journal * $1 PAGE 11 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST REE DENT COIT ASSETS LABILITIES EQUITY 1