Windsor Group uses revaluation accounting for a class of equipment it uses in its golf club refurbishing business. The equipment was purchased on January 2, 2022, for 470,000; it has a 10-year useful life with no residual value. Windsor has the following information related to the equipment. (Assume that estimated useful life and residual value do not change during the periods presented below.) The Company uses straight-line depreciation.

Date		Fair Value
January 2, 2022		470,000
December 31, 2022		439,920
December 31, 2023		357,200
December 31, 2024		333,700

Prepare all entries related to the equipment for 2022. (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. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date Jan. 2, 2022Dec. 31, 2022	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 2, 2022Dec. 31, 2022	enter an account title to revalue the equipment	enter a debit amount	enter a credit amount
	enter an account title to revalue the equipment	enter a debit amount	enter a credit amount
	(To revalue the equipment)
choose a transaction date Jan. 2, 2022Dec. 31, 2022	enter an account title to adjust the equipment to fair value and record unrealized gain	enter a debit amount	enter a credit amount
	enter an account title to adjust the equipment to fair value and record unrealized gain	enter a debit amount	enter a credit amount
	enter an account title to adjust the equipment to fair value and record unrealized gain	enter a debit amount	enter a credit amount
	(To adjust the equipment to fair value and record unrealized gain)