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Business, 30.12.2021 04:30 enca2619

Oriole Company purchased land in 2013 for $303000. In 2022, it purchased a nearly identical parcel of land for $458000. In its 2022 balance sheet, Oriole valued these two parcels of land at a combined value of $925000. Required:
Prepare the journal entries to record the land using revaluation accounting for 2022-2024.

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