Simon, Lacy, and Jefferson each have a $29,000 Capital balance. Simon is retiring from the business. The partners agree to revalue the assets at cument market value. A real estate appraiser values the land or $4000 value is $70,000) The profit-and-loss ratio is 123. Journalize (a) the revaluation of the land on July 31, and (b) payment of $33,000 to Simon upon his retirement the s (a) Journalize the entry for the revaluation of the land. (Record debits first, then credits. Enter explanations on the last line.) Date Jul 31 Journal Entry Accounts Debit Credit (b) Journalize the payment of $33,000 to Simon upon his retirement the same day. Date Jul 31 Journal Entry Accounts Debit Credit Time Ramaining: 01