Scoop is a main "crew" in Bob the Builder and it was purchased on January 1, Year 10 for $100,000. [Please use "equipment" account for "Scoop" in your journal entry.] Bob has been depreciating Scoop on a straight-line basis over a 25-year period with zero residual value. The appraisal carried out on December, Year 14 determined that the fair value of scoop was $76,000 and the appraisal carried out on December, Year 19 determined that the fair value of scoop was $68,400. Bob adopts revaluation model for Scoop and he uses proportional method. Please note that Bob makes the revaluation-related journal entry after he records depreciation expense as in your lecture note example. Also note that Bob does not adopt any partial-year depreciation. Have fun!

(1) Prepare the journal entry that reflects the revaluation on December, Year 13.

(2) Prepare the journal entry that reflects the revaluation on December, Year 17.