1^st July 20X4, $120,000 was paid by NorthWin Pty Ltd to purchase machine A (GST exclusive). The revaluation model is applied for the subsequent measurement of machine A. Revaluation is done at the end of each year. Straight line method was used for depreciation over 5 years. Residual value was estimated to be $20,000. Assume the depreciation method, total useful life and residual value are not affected by revaluation. 1^st July 20X6, cash proceeds from disposal of machine A was $70,000. (No GST considered for disposal)

	30th June 20X5	30th June 20X6
Fair Value	$110,000	$67,500

Required:

Journalise the transactions and events incurred from 1^st July 20X4 to 1^st July 20X6.