Jia Jets acquired a wooded piece of land in Indiana on April 1, 2014. The land cost 0,000. Jia Jets reports under IFRS and revalues its land. On December 31, 2017, the fair value of the land is $90,000. On December 31, 2020, the fair value of the land is $110,000. Provide all necessary journal entries for 2014 through 2020, and give the effect of each entry on net income for the year.
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