Current Attempt in Progress On January 1, 2022, Fredo Inc. purchased equipment with a cost of 2.550.000, a useful life of 15 years and no salvage value. The company uses straight-line depreciation. At December 31, 2022, an independent appraiser determines that the fair value of the equipment is 2.500,000 Fredo prepares financial statements using IFRS and elects to revalue the asset. In the second step of the 2-step revaluation process at December 31, 2022, the journal entry to revalue the equipment will include a O debit to Depreciation Expense for 255,000. O credit to Accumulated Depreciation for 170,000 O credit to Revaluation Surplus for 150,000. O credit to Equipment for 50,000. On January 1, 2022, Fredo Inc. purchased equipment with a cost of 62.550,000, a useful life of 15 years and no salvage value. The company uses straight-line depreciation. At December 31, 2022, an independent appraiser determines that the fair value of the equipment is 2.500.000 Fredo prepares financial statements using IFRS and elects to revalue the asset In the second step of the 2-step revaluation process at December 31, 2022, the journal entry to revalue the equipment will include a O debit to Depreciation Expense for 255,000 O credit to Accumulated Depreciation for 170,000. O credit to Revaluation Surplus for 150,000 O credit to Equipment for 50.000. Media