Required: Record journal entries for the PP&E events that occurred during the year. Be sure to record partial year's expenses as appropriate. Then enter the year-end adjusting journal entries in Part 2 below. Finally, in Part 3, discuss the Fair Value revaluation option for the properties under GAAP and IFRS, and compute the ending book values for the properties listed. Be sure to complete the blue-shaded areas only! PP&E Part 1: Journal Entries for PP&E events JE# JE# 1 Date Debit Credit Land Dallas, Texas Building Dallas, Texas Prepaid Expense (Insurance) 8/31/16 850,000 1,326,250 14,500 Cash 2,190,750 Note JE#2 9/30/16 Depreciation Expense 6,140 Accumulated Depreciation Building Golden, CO 6,140 Note 9/30/16 Cash Accum. Depreciation Building Golden, CO Loss on Disposal JE#3 3,157,000 253,750 44,250 Building - Golden, Colorado Land Golden, Colorado 2,175,000 1,280,000 Note Land Denver, Colorado Building - Denver, Colorado Prepaid Expense (Property Tax) 325,000 1,650,000 30,000 JE#4 Land (Vacant)- Denver, CO Gain on Exchar Cash 1,610,000 93,000 302,000 Note JE#5 11/30/16 Furniture & Equipment- Denver, Colorado 153,300 Cash 153,300