Prepare the entries to record depreciation expense for the year ended December $31,2023$ using the proportionate method.

$($Credit account titles are automatically indented when the amount is entered. Do not indent manually. Do not indent manually. If no entry

is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries. Do not round

intermediate calculations. Round final answers to $0$ decimal places, e$.$g$.5,275.)$

Account Titles and Explanation

Debit

Credit

Accumulated Depreciation $-$ Buildings

$($To record depreciation expense for Buildings$)$

Accumulated Depreciation $-$ Equipment

$($To record depreciation expense for Equipment$)$A partial statement of financial position of Pharoah Ltd$.$ on December $31,2022,$ showed the following property, plant, and equipment

assets accounted for under the cost model $($accumulated depreciation includes depreciation for $2022)$:

Pharoah uses straight$-$line depreciation for its building $($remaining useful life of $20$ years, no residual value$)$ and for its equipment

$($remaining useful life of $8$ years, no residual value$).$ Pharoah applies IFRS and has decided to adopt the revaluation model for its

building and equipment, effective December $31,2022.$ On this date, an independent appraiser assessed the fair value of the building

to be $$155,000$ and that of the equipment to be $$96,000.$