June 2022: Residential land, at cost 1 000 000 Factory land, at valuation 2020 900 000 Buildings, at valuation 2020 800 000 Accumulated depreciation (100 000) At 30 June 2022, the balance of the revaluation surplus is $400 000, of which $300 000 relates to the factory land and $100 000 to the buildings. On this same date, independent valuations of the land and buildings are obtained. In relation to the above assets, the assessed fair values at 30 June 2022 are: Residential land, previously recorded at cost 1 100 000 Factory land, previously revalued in 2020 700 000 Buildings, previously revalued in 2020 900 000 Provide the journal entries to account for the revaluation on 30 June 2022. Petersen Ltd classifies the residential land and the factory land as different classes of assets