Valued 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 $110,000. The fair value of the building, by comparing it with transactions involving similar assets, is assessed to be $330,000. Prepare the journal entries to revalue the plant under the revaluation model using

(a) The asset adjustment method

(b) The proportionate method. Do not round intermediate calculations but round final amounts to the nearest dollar.