3 (16 marks) On 1 April 2017, Far West Organisation Ltd bought a piece of freehold land at the cost of $3,980,000 using a bank loan. The bank loan is to be repaid in a bullet sum at the earlier of disposal or 10 years. The land was subsequently revalued to $4,100,000 on 1 October 2020. On 31 March 2021, the land was sold for $4,250,000 cash. Far West Organisation has a financial year end of 31 December. Required: Prepare all the necessary journal entries to record the above for the years ended: (a) 31 December 2017. (b) 31 December 2020. (c) 31 December 2021. (2 marks) (4 marks) (10 marks)