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Apple Company has a piece of equipment with an original cost of $1,250,000. The equipment's carrying value at the beginning of this year (net of accumulated depreciation) was $340,000. Apple recorded $ 180,000 for depreciation for this year. The equipment's fair value at the end of the year was $340,000. This is the first year that the company has revalued this equipment Required: a. Record the journal entry for the revaluation adjustment assuming that Apple uses the elimination method b. Record the journal entry for the revaluation adjustment assuming that Apple uses the proportional method