Oriola Holdings lnc, a publidy listed company in Canada, ventured into construction of a maga shapping mall in Edmonton, which is rated as the larzest shapping mall in North America. The company's board of diractors, after much markat research, decided that instead of selling the shopping mall to a local investor who had approached them several times with excellent offars that he steadily increassd during the year of construction, the company would hald this property for the purposes of capital appreciation and earning rantal income from mall tanants. The construction of the mall ended on December 31,2022 Oriale Holdins retained the services of a ral estate compary to find and attract many important ratailars to rent space in the shopping mall The shopping mall was fully occupied soon after construction was completsd. According to the company's accounting dapartment, the total construction coct of the shopping mall was $64 million. The company usad an independent appraiser to datarmine the mall's fairvalua annually. According to the appraisal, tha fair values of the shopping mall at December 31, 2023, and at aach subescuent year and ware: The independent appraiser felt that the useful lifs of the shopping mall was 20 years and its residual value was $11 million. Nate that the mall's rental income and experses would be the same under both options, and thus can be amitted from the analysis for this exarcise. (a) Prepare the nacessary ournal entries for 2024,2025 , and 2026 if it decides to treat the shopping mall as an investmant property under 1BS 40: Use fair valus model. (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. List all debit entries before credit entries. Record journal entries in the order presented in the problem. Enter amounts in dollars instead of million dallars.) Oriola Holdings lnc, a publidy listed company in Canada, ventured into construction of a maga shapping mall in Edmonton, which is rated as the larzest shapping mall in North America. The company's board of diractors, after much markat research, decided that instead of selling the shopping mall to a local investor who had approached them several times with excellent offars that he steadily increassd during the year of construction, the company would hald this property for the purposes of capital appreciation and earning rantal income from mall tanants. The construction of the mall ended on December 31,2022 Oriale Holdins retained the services of a ral estate compary to find and attract many important ratailars to rent space in the shopping mall The shopping mall was fully occupied soon after construction was completsd. According to the company's accounting dapartment, the total construction coct of the shopping mall was $64 million. The company usad an independent appraiser to datarmine the mall's fairvalua annually. According to the appraisal, tha fair values of the shopping mall at December 31, 2023, and at aach subescuent year and ware: The independent appraiser felt that the useful lifs of the shopping mall was 20 years and its residual value was $11 million. Nate that the mall's rental income and experses would be the same under both options, and thus can be amitted from the analysis for this exarcise. (a) Prepare the nacessary ournal entries for 2024,2025 , and 2026 if it decides to treat the shopping mall as an investmant property under 1BS 40: Use fair valus model. (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. List all debit entries before credit entries. Record journal entries in the order presented in the problem. Enter amounts in dollars instead of million dallars.)