Prepare the journal entries required for $2023,$ using the asset adjustment method. $($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 $0$ for the

amounts. List all debit entries before credit entries. Round answers to $0$ decimal places, e$.$g$.5,275.)$

No$.$ Account Titles and Explanation

Debit

Credit

Machine #$1$

Depreciation Expense

Accumulated Depreciation $-$ Machinery

$($To record depreciation expense$)$

Accumulated Depreciation $-$ Machinery

$($To eliminate accumulated depreciation$)$

Accumulated Depreciation $-$ Machinery

$($To record depreciation expense$)$

Accumulated Depreciation $-$ Machinery

$($To adjust the Machinery account to fair value$)$

Machine #$2$

$$

$($To adjust the Machinery account to fair value$)$

Machine #$2$

$($To record depreciation expense$)$

Accumulated Depreciation $-$ Machinery

$($To eliminate accumulated depreciation$)$

$1$

$1$

$1$

$]$Bramble Manufacturers Inc., a publicly listed company, has two machines that are accounted for under the revaluation model.

Technology in Bramble's industry is fast$-$changing, causing the fair value of each machine to change significantly about every two

years. The following information is available:

Both machines were last revalued on December $31,2021.$ Bramble has a December $31$ year end.