Demarco Lee invested $60,000 in the Camden and Sayler partnership for ownership equity of $60,000…

Demarco Lee invested $60,000 in the Camden and Sayler partnership for ownership equity of $60,000. Prior to the investment, equipment was revalued to a market value of $39,000 from a book value of $30,000. Kevin Camden and Chloe Sayler share net income in a 2:1 ratio. a. Provide the journal entry for the revaluation of equipment. b. Provide the journal entry to admit Lee?