In the 30 June 2020 annual report of Smith Ltd, the building was reported as follows: The building is depreciated on a straight-line basis over a 10-year period. The company used revaluation model for the building. The company finds out that the building has a fair value of $140,000 at 30 June 2020 . On 30 June 2021 , the fair value of building is assessed to be $92,500. Which journal entries are correct to revalue the asset in accordance with AASB 116 Property, Plant and Equipment at 30 June 2021? In the 30 June 2020 annual report of Smith Ltd, the building was reported as follows: The building is depreciated on a straight-line basis over a 10-year period. The company used revaluation model for the building. The company finds out that the building has a fair value of $140,000 at 30 June 2020 . On 30 June 2021 , the fair value of building is assessed to be $92,500. Which journal entries are correct to revalue the asset in accordance with AASB 116 Property, Plant and Equipment at 30 June 2021