Splish Brothers Assets Inc., a publicly listed company, has a building with an initial cost of $400,000. At December 31, 2020, the date of revaluation, accumulated depreciation amounted to $105,000. The fair value of the building, by comparing it with transactions involving similar assets, is assessed to be $324,500. On January 5, 2021, Splish Brothers sold the building for $319,500 cash. Prepare the journal entries to record the sale of the building after having used the revaluation model using the asset adjustment method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Jan. 5 Debit Credit Prepare the journal entries to record the sale of the building after having used the revaluation model using the proportionate method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Do not round intermediate calculations. Round answers to O decimal places, e.g. 5,275.) Date Account Titles and Explanation Jan. 5 Debit Credit