ay 1 Protheus Ltd 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: alle dis 30 June 2008 30 June 2009 30 June 2010 $85 000 60000 45000 Remaining useful life: 4 years Remaining useful life: 3 years Poce NT SON Owing to a change in economic conditions, Proteus Ltd sold the machine for $45000 on 30 June 2010. The asset was revalued to fair value immediately before the sale Required 1. Provide the joumal entries used to account for this machine over the period 2007 to 2010