Healing Souls ("HS"), a yoga center, acquired air conditioners for its studios on January 1, 2019, for $600,000 cash. HS accounts the air conditioners as Equipment and elects to value them using revaluation accounting. The air conditioners are being depreciated on a straight-line basis over its 15-year useful life. There is no residual value. On December 31, 2019, the fair value of the air conditioners is determined to be $574,000. On December 31, 2020, the appraised value of the building approximates its carrying amount. Requirement: B. Prepare the journal entries for HS during 2019 to 2020. (9 marks)