Carla Vista Corporation owns and manages a small 10-store shopping centre, which it classifies as an investment property. Carla Vista has a May 31 year end and initially recognized the property at its acquisition cost of $11.2 million on June 2,2022 . The acquisition cost consisted of the purchase price of $10.5 million, costs to survey and transfer the property of $452,000, and legal fees to acquire the property of $248,000. Carla Vista determines that approximately 27% of the shopping centre's value is attributable to the land. with the remainder attributable to the building. The following fair values are determined: Carla Vista expects the shopping centre building to have a 35 -year useful life and a residual value of $1.386 million. Carla Vista uses the straight-line method for depreciation. Assume that Carla Vista decides to apply the fair value model. Prepare the journal entries, if any, required at each year end. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter ofor the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)