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The Balance sheet for Saturn Ltd disclosed the following information: Saturn Ltd Balance Sheet (extract) 30'il June 2019 Plant At cost: Accumulated depreciation-Plant Additional information: o The company has adopted fair value for the valuation of non-current assets. This has resulted in the recognition in previous periods of an asset revaluation surplus/reserve for the plant of $120,000. 0 The plant has a useful life of 10 years and a zero-residual value. 0 On 31St December 2019, it was decided to revalue this amount to its fair value of $400,000. Required: a) Record the journal entries [as per template below) as at 31 December 2019, relating to the revaluation of this plant. Include narrations. (7 Marks) b) Record the closing journal entries (as per the template below) for any gain or loss on revaluation only, as at 30th June 2020. Include narrations. (6 Marks) Ignore any tax effects. General Journal template