Lane Stevens is to retire from the partnership of Stevens and Associates as of March 31, the end of the current fiscal year After closing the accounts, the capital balances of the partners are as follows: Lane Stevens, $309,000 Cherne Ford, $158,000; and LaMarcus Rollins, $176,000. They have shared net income and net losses in the ratio of 3:2:2. The partners agree that the merchandise inventory should be increased by $28,600, and the allowance for doubtful accounts should be increased by 16,900. Stevens agrees to accept a note for $255,000 in partial settlement of his ownership equity. The remainder of his claim is to be paid in cash. Ford and tullins are to share equally in the net income or net loss of the new partnership. a. Journalize the entry to record the adjustment of the assets to bring them into agreement with cument market prices. For a compound transaction, if an amount box does not require an entry, leave it blank Chemte Ford Cascal Adjust the inventory account and the allowance account, and adjust each partner's capital account for their income-sharing ratie by multiplying net inventory times 3/7 for Wear's allocation and 2/2 time net ventory for both Richards and Willams allocation Journale the entry to record the withdrawal of Stevens from the partnership. For a compound transaction, if an amount box does not require an entry, leave bank Lane Stevens, Capi 211,000 000 003