Please use the same format as question (I.E; Same boxes)

On January 1, 2020, Oriole Ltd. acquires a building at a cost of $210,000. The building is expected to have a 20-year life and no residual value. The asset is accounted for under the revaluation model, using the asset adjustment method. Revaluations are carried out every three years. On December 31, 2022, the fair value of the building is appraised at $185,000, and on December 31, 2025, its fair value is $120,000. Oriole Ltd. applies IFRS. (a) Your answer is correct. Prepare the journal entry required on December 31, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2020 Depreciation Expense 10500 Accumulated Depreciation - Buildings 20500 (To record depreciation expense) Your answer is partially correct. Prepare the journal entries required on December 31, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2022 Depreciation Expense 10500 Accumulated Depreciation - Buildings 10500 (To record depreciation expense) Dec. 31, Accumulated Depreciation - Buildings 2022 315000 Buildings 315000 (To eliminate the accumulated depreciation) Dec. 31. 2022 Buildings 80.000 Revaluation Surplus (OCI) 80.000 (To adjust the Buildings account to fair value)