Warren Ltd acquires a four-wheel-drive bus on 1 July 2019 for $300 000. The bus is expected to have a useful life to Warren Ltd of seven years, after which time it will be towed out to sea and sunk to make an artificial reef for marine life (after all oils and solvents have been removed). The straight-line method of depreciation is used. On 1 July 2021 the bus is revalued to $250 000 and its useful life is reassessed: it is expected, at that date, to have a remaining useful life of six years. On 1 July 2022 it is unexpectedly sold for $220 000. REQUIRED Provide the journal entries to record the revaluation on 1 July 2021 and the subsequent sale on 1 July 2022.