On 1 July 2018, Properties Ltd purchased a building of executive offices for a total cost of $5,000,000. The estimated useful life of the building was 40 years, with an estimated residual value of $nil. The entity's reporting period ends on 30 June, and it uses diminishing-balance method depreciation at the rate of two times the depreciation rate of the straight-line method of depreciation. On 1 July 2019, Properties Ltd revalued the building upwards to reflect the fair value of $5,500,000. The revised useful life was 45 years and the residual value was estimated at $nil. On 31 December 2019 as a consequence of an economic recession the net selling price of the building was $4,800,000 and the value in use was estimated at $4,900,000. On 1 January 2020, Properties Ltd sold the building for $4,800,000. Required Prepare the following journal entries (assuming no GST): a. Journal entries for the acquisition of the building on 1 July 2018. b. Journal entries on 30 June 2019 for the depreciation expense. c. journal entries on 1 July 2019 for the revaluation of the building. d. Journal entry on 31 December 2019 for the impairment of the building. e. Journal entries on 1 January 2020 for the sale of the building