Teal Corp., in accordance with IFRS, applies revaluation accounting to plant assets with a carrying amount of $392,000, a useful life of 4 years, and no residual value. At the end of year 1, independent appraisers determine that the asset has a fair value of $352,800. Prepare the entries to record this revaluation and depreciation, assuming straight-line depreciation. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
enter an account title to record depreciation expense in year 1	enter a debit amount	enter a credit amount
enter an account title to record depreciation expense in year 1	enter a debit amount	enter a credit amount
(To record depreciation expense in year 1)
enter an account title to adjust the plant assets to fair value and record unrealized gain	enter a debit amount	enter a credit amount
enter an account title to adjust the plant assets to fair value and record unrealized gain	enter a debit amount	enter a credit amount
enter an account title to adjust the plant assets to fair value and record unrealized gain	enter a debit amount	enter a credit amount
(To adjust the plant assets to fair value and record unrealized gain)