Sitcom Berhad purchases an investment property at a cost of RM$50$ million, including transaction costs. At the end of the first quarter following the purchase, the fair value of the property increases to RM$52$ million. As at the end of the second quarter, the fair value is RM$51$ million. Rental income received per quarter is Rm$1$ million. The useful life of the property is $50$ years.

Required: Prepare the necessary journal entries.