Annika Ltd has determined that its fine china division is a CGU. The carrying amounts of the assets at 30 June 2020 are as follows. Factory $210 000 Land $150 000 Equipment $120 000 Inventories $60 000 Annika Ltd calculated the value in use of the division to be $500 000. Required: Provide the necessary journal entries for the impairment loss. Show all workings and round all numbers to the nearest dollar. Narration is not required. Write your answers below. If you need more space write on the next page. Factory 210 210/540= 0.4 x 500,000 0.3888 loss land 150 150/540-0.2777 0.3 x 500,000 $150,000 Equipment 120 120/540-0.2222 0.2 x 500,000 $100,000 Inventories 60 60/540-0.1111 0.1 x 500,000 $50,000 540 Debit Credit 30th June 2020 Impairment loss 500,000 Factory 200,000 Land 150,000 Equipment 100,000 Inventories 50,000