On March 1, 2020, Martinez Corp. acquired a 10-unit residential complex for $ 1,270,000, paid in cash. An independent appraiser determined that 75% of the total purchase price should be allocated to buildings, with the remainder allocated to land. On the date of acquisition, the buildings estimated useful life was 25 years, with estimated residual value of $ 325,200. Martinez estimates that straight-line depreciation would best reflect the pattern of benefits it will receive from the building. Fair value of the complex, as assessed by an independent appraiser on each date, is as follows:

Date		Fair Value
December 31, 2020		$ 1,321,730
December 31, 2021		$ 1,254,650
December 31, 2022		$ 1,222,790

The complex qualifies as an investment property under IAS 40 Investment Property. Martinez has a December 31 year end.

A) Prepare the journal entries required for 2020, 2021, and 2022, assuming that Martinez applies the fair value model to all of its investment property. (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 0 for the amounts. Record entries in the order presented in the problem.)

B) Prepare the journal entries required for 2020, 2021, and 2022, assuming that Martinez applies the cost model to all of its investment property. (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 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275. Record entries in the order presented in the problem.)