On January 1, Year 1, ABC Co. acquires a building at a cost of $2,000. The building is expected to have a 25 -year life and no residual value. The asset is accounted for under the revaluation model and revaluations are carried out every three years. On December 31 , Year 3 , the fair value of the building is appraised at $1,800. Prepare the entries required on December 31 , Year 3.