Lane Stevens is to retire from the parthership of Stevens and Associates as of March 31 , the end of the current fiscal year, After closing the accounts, the captail balances of the partners are as follows: Lane Stevens, 1269,000; Cherrie Ford, $137,000; and LaMarcus Rolins, $153,000. They have shared net income and net losses in the ratio of 3:2:2. The parthers agree that the merchandise inventory thould be increased by $24,900, and the allowance for doubeful accounts should be increased oy 55,000 . Stevens agrees to accept a note for $220,000 in partial settiement of his ownership equity. The femainder of his claim is to be paid in cash. Ford and Rolins are to share equaliy in the net income or net loss of the new partnership. a. Joumalize the entry to record the adjustment of the assets to bring them into agreement with current market prices, For, a cempound transaction, f an amount box