On February 1, 2020, Jordan Corp. purchased a vineyard in southern Ontario for $7.8 million cash. Based on appraisals, there was no change in value for the property in 2020 and the property's year-end fair values were $7.4 million at the end of 2021, and $ 7 million at the end of 2022. The useful life of the vineyard is expected to be 30 years with a residual value of $280,000. Jordan Corp uses straight-line depreciation. Required: Jordan Corp uses the revaluation model, prepare all the required journal entries in 2020, 2021 and 2022.