Marin Assets Inc., a publicly listed company, has a building with an initial cost of $407,000. At December 31, 2020, the date of revaluation, accumulated depreciation amounted to $108,000. The fair value of the building, by comparing it with transactions involving similar assets, is assessed to be $328,900. On January 5, 2021, Marin sold the building for $323,900 cash.

(a)

Prepare the journal entries to record the sale of the building after having used the cost model. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 5	enter an account title for the journal entry on January 5	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on January 5	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on January 5	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on January 5	enter a debit amount	enter a credit amount