On July 1, 2020, Sarasota Ltd., a publicly listed company, acquired assets from Bridgeport Ltd. On the transaction date, a reliable, independent valuator assessed the fair values of these assets as follows: Manulacuting plant (huilding 41) $199,520 Storage warehouse (building #2) 209,920 Machinery (in building #1) 74,700 Machinery (in building +2) 45,000 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 to encourage local employment In exchange for the acquisition of these assets, Sarasata issued 145,790 common shares. Sarasota's shares are thinly traded (that is, traded in relatively low volume leading to more volatile price changes than most public companies). In the most recent sale of Sarasota's shares on the Toronto Stock Exchange, 560 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 years. Sarasota uses straight-line depreciation with no residual values. At December 31, 2020. Sarasota's fiscal year end, Sarasota 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: Manulacturing plant (building 41) $185,700 Storage warehouse (building #2) 178,600 At Derember 31, 2021, Sarasota once again retained an independent appraiser and determined that the fair value of the assets was: Manufacturing plant (building #1) $339,610 Storage warehouse (building #2) 160,950 Prepare the journal entries required for 2020 and 2021, assuming that the buildings are accounted for under the revaluation model (using the asset adjustment method), and that the machinery is cruce for under the card rocel. (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 o for the amounts. Record the amounts for Building #1 and #2 and for Machinery seperately. Do not combine these amounts. Round answers to o decimal places, e.g. 5,275.) Debit Credit Date Account Titles and Explanation July 1, 2020 Dec 31, 2020 (To record depreciation on Machinery in Building 1) Dec 31, 2020 (Torre depresilicon Machinery in Building #2) Dec 31, 2020 (lo revalue manufacturing plant (Building #1)) Dec 31, 2020 (Ta revalor a wee-(Puikiing #?)) Date Account Titles and Explanation Debit Credit Dec 31, 2021 (To record depreciation Dulkling #2) Dec 31, 2021 y (To record depreciation on Machinery in Building #1) Dec 31, 2021 (lo record depredation on Machinery in Building T2) Dec 31, 2021 11 (Tarekur storage warener:- (Duiking #?))