ABC Company acquired a new piece of land on April 1, 2010 for cash of $200,000. ABC Company reports under IFRS and revalues its land. On December 31, 2015, the fair value of the land is $120,000. On December 31, 2018, the fair value of the land is $350,000. What is the journal entry on December 31, 2018? 350,000 Cash a. Gain on Revaluation of Land Land 150,000 200,000 1500,000 Land b. Gain on Revaluation of Land 150.000 330,000 Land Revaluation Surplus 330,000 330,000 Land d. Gain on Revaluation of Land Revaluation Surplus 80,000 150,000 e. None of these