Revaluation downward without existing reserve

[Question 1] On 1 January 20X2 Lumos purchased a property with a useful life of 20 years for $200,000 On 1 January 20X4 Lumos revalued the property down to $144,000 CA @ 31 December 20X3: $180,000 Accounting record at 1 January 20X4 Dr. Revaluation loss $36,000 Cr. Property $36,000 Dr. Accumulated depreciation $20,000 Cr. Property $20,000 [Question 2] A company purchased machinery on 1 January 2022 for $200,000. The machinery has a useful life of 10 years. On 31 December 2024, after recording depreciation for the year, the machinery was revalued to $180,000. CA @ 31 December 20X4: $140,000 Dr. Accumulated depreciation $60,000 Cr. Machinery $60,000 Dr. Machinery $40,000 Cr. Revaluation surplus $40,000 Are these entries are correct?