Prepare the journal entries required for 2020, using the asset adjustment method. (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.) No. Account Titles and Explanation Debit Credit Machine #1 1. Depreciation Expense Machinery (To record depreciation expense) 2. Accumulated Depreciation - Machinery Machinery (To eliminate accumulated depreciation) 3. Machinery Revaluation Gain or Loss Revaluation Surplus (OCI) (To adjust the Machinery account to fair value) Machine #2 1. Depreciation Expense Machinery (To record depreciation expense) 2. Accumulated Depreciation - Machinery Machinery (To eliminate accumulated depreciation) 3. Revaluation Surplus (OCI) Revaluation Gain or Loss Machinery