Revaluing and Contributing Assets to a Partnership $$185,000.$ Daniel Trenton and Ann Marie Rainwater share net income in a $1$:$3$ ratio.

a$.$ Journalize the entry for the revaluation of equipment. If an amount box does not require an entry, leave it blank.

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b$.$ Journalize the entry for the admission of Westbury. If an amount box does not require an entry, leave it blank.

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