S. Seo and J. Pham are partners in Space Designs. Seo and Pham share income equally. D. Fenway will be admitted to the partnership. Prior to the admission, equipment was revalued downward by $8,000. The capital balances of each partner are $100,000 and $139,000, respectively, prior to the revaluation. Required (1) Provide the journal entry for the asset revaluation. (2) Provide the journal entry for Fenway's admission under the following situation: Fenway purchased a 30% interest for $125,000 (contribution). Hint: remember to add Fenway's contribution to existing partners' revalued equity balances to calculate Fenway's share of equity