A real estate company owns a building that originally cost $500,000 and has accumulated depreciation of $100,000. The company decides to revalue the building to its current market value of $650,000. What is the correct double-entry to record this revaluation?

Debit Building Cost $150,000, Credit Revaluation Surplus $150,000.

Debit Building Cost $150,000, Debit Accumulated Depreciation $100,000, Credit Revaluation Surplus $250,000.

Debit Building Cost $250,000, Credit Statement of Profit or Loss $250,000.

Debit Revaluation Surplus $250,000, Credit Building Cost $150,000, Credit Accumulated Depreciation $100,000.