A company owns a building it had purchased on

Janvary 1, 2020, for $4 million in cash. It is accounted for in a seperate account called

"buildings." The company uses the revaluation model and revalues anually. The company

uses straight-line depreciation over the asset's

10-year useful life with no residual value. The asset's fair value was equal to its carrying amount on December 31, 2020 and was

4000000 on December 31, 2021. The company uses the asset adjustment method for the revaluation.

Make all journl entries for 2020 and 2021: