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Company A owns a building which originally cost /650,000 and has a net book value of /475,000. The Finance Director has had the building valued
Company A owns a building which originally cost /650,000 and has a net book value of /475,000. The Finance Director has had the building valued by professional valuers who have assigned a fair value of / 725,000 to the building. Outline the journal entries required to record the upward revaluation.
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