Revaluing and Contributing Assets to a Partnership Demarco Loe invested $53,000 in the Camden & Sayler partnership for ownership equity of $53,000. Prior to the investment, equipment was revalued to a market value of $307,000 from a book value of $223,000. Kevin Camden and Chloe Sayler share net income in a 1:3 ratio. Required: a. Provide the journal entry for the revaluation of equipment For a compound transaction, if an amount box does not require an entry leave it blank b. Provide the journal entry to admit Lee