Sizemore Company owns land that it purchased at a cost of $1,200,000 in 2013. The company chooses to use revaluation accounting to account for the land. The lands value fluctuate as follows (all amounts as of December 31): 2013, $1,350,000; 2014, $1080,000; 2015, $1,160,000; and 2016, $1,230,000.

Instructions Prepare the journal entries to record the revaluation of the land in each year.