ABC Ltd. reported the following information in its statement of financial position at 30 June 2020.

Plant $ 650,000

Accumulated Depreciation -Plant (150,000)

Intangible Assets 300,000

Accumulated amortization (100,000)

Land 300,000

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1,000,000

Cash 50,000

Inventories 180,000

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Total Current Assets 230,000

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Total Assets $ 1,230,000

Liabilities 150,000

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Net Assets $ 1,080,000

At 30 June 2020, ABC Ltd. analyzed the internal and external sources of information that would indicate deterioration in the worth of its assets. It determined that there were indications of impairment. ABC Ltd. calculated the recoverable amount of the assets to be $ 980,000

Required:

Provide the Journal Entry for any Impairment Loss at 30th June 2019.