POST CLOSING TRIAL BALANCE 31-Dec-21 Cash 38000 AR 5,000 Supplies 22,000 Baking Equip 500000 Accum dep 200000 AP 100,000 Nadie, Capital 265000 Totals 565,000 565000 On January 2, 2020 Nadie thought of expanding the business to include a cafe. He needed an additional investment so he invited Shayne to be his business partner. Shayne is to invest Cash for a 50% equity in the partnership after giving consideration to the following adjustments 1) Baking Equipment has an appraised value of 50% of its cost 2) AR are estimated to be 80% realizable 3) Ununsed building rental amounts to P36,000 The contribution of Shayne upon formation of the partnership amounts to? a) 500,000 b) 300,000 c) 250,000 d) 125,000 Include the journal entry to record revaluation