Able, Baker, and Charley are partners with capital balances of $90,000, $100,000, and $150,000, respectively. Profits and losses are shared in a 1:2:3 ratio. Baker decided to withdraw and the partnership revalued its assets. The value of inventory was decreased by $ 30,000 and the value of land was increased by $70,000. Able and Charley then agree to pay Baker $200,000 for his withdrawal rom the partnership. Prepare the journal entry to record Baker's withdrawal using the bonus method.