On $28$ April $20$X$2,$ Peele Realty purchased land and building for $$6\mathrm{.}45$ million and $$4\mathrm{.}59$ million, respectively. The company uses the revaluation model for the land and building. Assume that the land is revalued annually. The building is revalued every two years.

The fair value of the land at the end of $20$X$2,20$X$3$ and $20$X$4$ was $$6\mathrm{.}47$ million, $$6\mathrm{.}19$ million and $$6\mathrm{.}62$ million. The fair value of the building at the end of $20$X$3$ was $$4\mathrm{.}95$ million. The building is amortized on a straight$-$line basis and has a $30-$year useful life. Peele takes a full year of depreciation in the year acquired.

Required:

Prepare the journal entries under the revaluation model for the land in $20$X$2,20$X$3$ and $20$X$4.($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$

Prepare the journal entries under the revaluation model for the building in $20$X$3,$ using:

The proportionate method

The elimination method

$($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$