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What is the journal entry for warehouse

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Reference no: EM132575465

The warehouse was purchased on 1 January 2010 for $2.4 million. The valuation report has revalued the warehouse to $800,000 as at 1 December 2019. There was a previous revaluation on 31 December 2013. The balance of warehouse is $2,316,000 as at 31 November 2019.

Question 1: What is the journal entry?

Reference no: EM132575465

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