1. Assume that Glory Company applies revalution at the end of December 31. year to Building purchased on June 1. your 7 for Bir 2,000,000. The Building has a useful life of 20 years and no residual value. Required: a) Record adjusting entry for depreciation on December 31. year 7 using straight line method b) At the end of year 7. independent appraisers determine that the asset has a fair value of Birr 1.980,000.record the equipment at fair value c) At the end of year 8, independent appraisers determine that the asset hus a fair value of Biry 1.775.000 at the end of Year 8. record the equipment at fair value. d) At the end of year 9. independent appraisers determine that the asset has a fair value of Bin 2.100,000 at the end of Year 9 record the equipment in fair value