On July 1, 2017, Bramble Ltd., a publicly listed company, acquired assets from Sheffield Ltd. On the transaction date, a reliable, independent valuator assessed the fair values of these assets as follows: Manufacturing plant (building #1) $399,930 Storage warehouse (building #2) 209,860 Machinery (in building #1) 75,000 Machinery (in building #2) 44,860 The buildings are owned by the company, and the land that the buildings are situated on is owned by the local municipality and is provided free of charge to the owner of the buildings as a stimulus to encourage local employment. In exchange for the acquisition of these assets, Bramble issued 145,900 common shares. Bramble shares are thinly traded, and in the most recent sale of Bramble's shares on the Toronto Stock Exchange, 520 shares were sold for $5 per share. At the time of acquisition, both buildings were considered to have an expected remaining useful life of 10 years, the machinery in building #1 was expected to have a remaining useful life of 3 years, and the machinery in building #2 was expected to have a useful life of 9 years. Bramble uses straight-line depreciation with no residual values. At December 31, 2017, Bramble fiscal year end, Bramble recorded the correct depreciation amounts for the six months that the assets were in use. An independent appraisal concluded that the assets had the following fair values: Manufacturing plant (building #1) $386,830 Storage warehouse (building #2) 177,810 At December 31, 2018, Bramble once again retained an independent appraiser and determined that the fair value of the assets was: Manufacturing plant (building #1) $339,970 Storage warehouse (building #2) 159,500 Prepare the journal entries required for 2017 and 2018, assuming that the buildings are accounted for under the revaluation model (using the asset adjustment method), and that the machinery is accounted for under the cost model.