Question 2 Johnson's Tires purchased a warehouse on July 1, 20X2 for $140,000 and will account for the warehouse using the revaluation method. Johnson's depreciates the asset using the straight-line method over 25 years with no residual value, and has a policy of taking half a year's depreciation in the year of purchase and year of disposal. Johnson's fiscal year end is December 31. Date July 1, 20x2 December 31, 20X4 December 31, 20X7 May 15, 20X8 Event Purchase (FV = purchase price) Revaluation Revaluation Disposal (FV = sale price) Fair value 140,000 130,000 105,000 110,000 = Required: Provide all journal entries for Johnson's tires including purchase, revaluation, and disposal (ignoring tax effects)