On 30 June 2025, Wong Ltd reported the following information for equipment in its statement of financial position.

Investigation of the property and plant records showed that the equipment consisted of two items: a machine (no. 1) that cost the company \($1\) 600 000 and had a carrying amount of \($840\) 000 at 30 June 2025, and another machine (no. 2) that originally cost \($1\) 200 000 and had a carrying amount at 30 June 2025 of \($920\) 000. Both machines are depreciated on a straight-line basis over 10 years.
On 1 January 2026, the directors of Wong Ltd decided to switch the valuation method from the cost model to the revaluation model. Machine no. 1 was revalued to its fair value of \($960\) 000, with an expected future useful life of 6 years, and machine no. 2 was revalued to \($900\) 000, with an expected remaining useful life of 6 years.
On 30 June 2026, the fair value of machine no. 1 was assessed at \($900\) 000, and the future useful life was estimated as 5 years. For machine no. 2, fair value was assessed to be only \($600\) 000, and its future useful life to be 4 years because of a certain degree of commercial obsolescence.
Required

(a) Prepare journal entries for Wong Ltd, in general journal form, for the equipment during the period from 1 July 2025 to 30 June 2026.

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Equipment (at cost) Accumulated depreciation $2 800 000 1 040 000 1 760 000