Caldwell and estrada post-closing trial balance august 31, 20y9 debit balances credit balances cash 7,100 accounts receivable 43,400 allowance for doubtful accounts 1,600 merchandise inventory 66,700 prepaid insurance 2,400 equipment 190,000 accumulated depreciation—equipment 58,900 accounts payable 15,700 notes payable (current) 44,400 brian caldwell, capital 101,000 adriana estrada, capital 88,000 309,600 309,600 1. journalize the entries as of august 31 to record the revaluations, using a temporary account entitled asset revaluations. debits and credits to the asset revaluation account are losses and gains from revaluation, respectively. the balance in the accumulated depreciation account is to be eliminated. after journalizing the revaluations, close the balance of the asset revaluations account to the capital accounts of brian caldwell and adriana estrada. for a compound transaction, if an amount box does not require an entry, leave it blank aug. 31-accounts receivable asset revaluations 2.980 v accounts receivable 2.600 allowance for doubtful accounts 380 v aug 31-merchandse inventory merchandise inventory 4.500 v asset revaluations 4.500 accumulated deprediation equiment 54.300 aug. 31-equipment equipment y sset revaluations 24.100 v 30.200 asset revaluations 54,3001 x aug.31-close brian caldwell, capital 27.150 adriana estrada, capital 27.150 x □ □ less allowance for doubtful accounts merchandise inventory prepaid insurance total current assets property, plant, and equipment: equipment total assets liabilities current liabilties: accounts payable y notes payable total liabilities brian caldwell, capital adriana estrada, capital y kris mays, capital y total partners equity total liablities and partners equity