QUESTION 7 3 points Save Answer ABC Ltd purchased land for $500,000 on 1 January 2017 and used revaluation model to account for this type of asset. It was revalued on 31 December 2019 to $450,000. A subsequent revaluation on 31 December 2021 found the market value to be $600,000 due to a change in council zoning for the area. What are the journal entries required to record the revaluation of the land on 31 December 2021? No narration and calculation workings required. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)