rake Assignment takeAssignmentMain doinvokerStake Assignment Revaluing and Contributing Assets to a Partnership Marquis Westbury invested $49,000 in the Trenton and Rainwater partnership for ownership equity of 549,000. Prior to the investment equipment was revalued to a market value of $359,000 from a book value of $281.000. Daniel Trenton and Ann Marie Rainwater share net Income in a 1:2 ratio Required: a. Provide the journal entry for the revaluation of equipment. If an amount box does not require an entry, leave it blank. Equipment Daniel Trenton, Capital doo Ann Marie Rainwater, Capital Feedback b. Provide the journal entry to admit Westbury. If an amount box does not require an entry, leave it blank Cash 88 Marquis Westbury, Capital Food Eeeds RI hp) 00 - 5 6 7 9 0 5 T Y U o