GIVEN: Moon Inc., a publicly listed company, has a building with an initial cost of $400,000. At December 31, 2020, the date of revaluation, accumulated depreciation amounted to $110,000. The fair value of the building, by comparing it with transactions involving similar assets, is assessed to be $330,000.Prepare the journal entries to revalue the building under the revaluation model using:

a.the asset adjustment (direct) method

b.the proportionate method