7.7 Impairment of a CGU ** LO5 Rainier Ltd reported the following assets in its statement of financial position at 30 June 2022. Plant Accumulated depreciation Land Patent Office equipment Accumulated depreciation Inventories Cash and cash equivalents $ 800 000 (240 000) 300 000 240 000 620 000 (340 000) 220 000 180 000 $1 780 000 The recoverable amount of the entity was calculated to be $1 660 000. The fair value less costs of disposal of the land was $280 913. Required Prepare the journal entry for any impairment loss at 30 June 2022