A business has equipment which it purchased on the 1 January 2023 for $200,000. It has a useful life of 10 years with a residual value of $40,000. The business uses the straight-line depreciation method and adopts the fair value model. On 30 June 2023 its fair value amount is estimated to be $140,000. The journal entry to record revaluation on 30 June 2023 is: O a. DR Revaluation expense $44,000; CR Equipment $44,000 O b. DR Revaluation expense $52,000; CR Equipment $52,000 O c. DR Revaluation surplus $44,000; CR Equipment $44,000 O d. DR Equipment $52,000; CR Revaluation income $52,000