ABC Ltd has the following land and buildings in its financial statements as at 30 June 2022: Residential land, at cost Factory land, at valuation 2020 Buildings, at valuation 2020 Accumulated depreciation 2,260,000 2,034,000 1,808,000 -226,000 At 30 June 2022, the balance of the revaluation surplus is $904 000, of which $678 000 relates to the factory land and $226 000 to the buildings. On this same date, independent valuations of the land and buildings are obtained. In relation to the above assets, the assessed fair values at 30| June 2022 are: Residential land, previously recorded at cost Factory land, previously revalued in 2020 Buildings, previously revalued in 2020 2 486 000 1 582 000 2 034 000 Required: Provide the journal entries to account for the revaluation on 30 June 2022. ABC Ltd classifies the residential land and the factory land as different classes of assets.