Antique Bhd acquired a machine costing RM$500,000$ on $1$ January $2017.$ The estimated useful life of the machine was $10$ years with scrap value RM$5,000.$ The company adopted cost model in valuation of its machine. On $1$ January $2020,$ the economic performance of the machine was below expectation. The company estimated that it can sell the machine for RM$400,000$ but it has to incur costs of RM$15,000.$ While, if Antique Bhd continue to use it$,$ the value in use $($present value$)$ was RM$330,000.$

a$.$ Determine the recoverable amount

b$.$ Prepare the journal entries to record the above transactions for the year ended $31$

December $2020$

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