Enigma Inc. owns an apartment building that was originally purchased in 2014 for $1,200,000. Enigma reports under IFRS and accounts for its investment properties using the fair value model. At the beginning of 2020, the building had a fair value of $1,600,000. On December 31, 2020, Enigmas year end, the fair value was $1,550,000. Silvio, Enigmas controller, is preparing the journal entry to record the apartment building at its fair value at year end. Which of the following are included in the journal entry?

Question 9 options:

a)	No journal entry is required.

b)	A debit to investment property of $350,000.

c)	A debit to investment property of $400,000.

d)	A credit to investment property of $50,000.