According to the source, what is the general order of journal entries related to the revaluation of assets and liabilities upon a partner's retirement or death?
1
Distributing profit or loss on revaluation, Recording decrease in asset value, Recording increase in liability
2
Recording an unrecorded liability, Recording an unrecorded asset, Distributing profit or loss on revaluation
3
Recording increase in liability, Recording decrease in asset value, Recording an unrecorded asset
4
Recording changes in the value of assets and liabilities and bringing unrecorded items into books, Distributing the profit or loss on revaluation