age 56 of 94 Protheus Lid acquired a machine on 1 July 2007 at a cost of $100 000. The machine has an expected useful life of 5 years, and the company adopts the straight-line basis of depreciation. The income tax rate is 30%. Reporting date, June 30, XX. Protheus Ltd measures this asset using the revaluation model. Movements in fair values are as follows: 30 June 2008 $85 000 Remaining useful life: 4 years 30 June 2009 60 000 Remaining useful life: 3 years 30 June 2010 45 000 Owing to a change in economic conditions, Proteus Ltd sold the machine for $45 000 on 30 June 2010. The asset was revalued to fair value immediately before the sale. Required 1. Provide the journal entries used to account for this machine over the period 2007 to 2010