A company purchased a building on 1 April 2007 for $100,000. The asset had a useful economic life at that date of 40 years. On 1 April 2009 the company revalued the building to its current fair value of $120,000. Instructions: (a) Prepare the double entry to record the revaluation 4(b) Revaluation losses The carrying value of Zen's property at the end of the year amounted to $108,000. On this date the property was revalued and was deemed to have a fair value of $95,000. The balance on the revaluation reserve relating to the original gain of the property was $10,000. Instructions: (b) Prepare the double entry to record the revaluation