Marshal Ltd$.$ owns a building that it purchased on January $1,2023,$ for $$6,000,000($excluding the land value$).$ Management estimates the useful life to be $30$ years, with no residual value. The following additional information is available:

Dec $31,2023$ Fair value: $$6,100,000$

Dec $31,2024$ Fair value: $$6,200,000$

Dec $31,2025$ Fair value: $$5,000,000$

Instructions

The company uses the revaluation model $($asset adjustment method$)$ to account for its property, plant, and equipment. Assuming a December $31$st fiscal year end, prepare the year$-$ end adjusting entries for $2023$ to $2025($Round to the nearest dollar$).$