4 (30 marks) Graham Ltd purchased a building on 1 January 2015 at the cost of $9,000,000. The building was depreciated using the straight-line method over the 40-year lease period starting on 1 January 2015. There is no residual value estimated. On 1 January 2021, the building was revalued to $7,800,000 by an independent valuer. The lease period was not affected by the revaluation. Required: (a) Prepare journal entries to record the revaluation on 1 January 2021. (16 marks) (b) Prepare all necessary journal entries to account for the depreciation of the revalued building for the year ended 31 December 2021. (14 marks) Show all your workings clearly and round off answers to the nearest dollar, where applicable