Bob Ltd$.$ purchased two new machines for cash on $1$ January $2020.$ Machine X cost $$8,000$ and Machine Y cost $$20,000.$ Each machine was expected to have a useful life of $10$ years, and residual values were estimated at $$400$ for Machine X and $$1,000$ for Machine Y$.$

On $30$ June $2021,$ Bob Ltd$.$ adopted the revaluation model to account for the class of machinery. The fair values of Machine X and Machine Y were determined to be $$6,400$ and $$9,000$ respectively on that date. The useful life and residual value of Machine X was reassessed to $8$ years and $$300.$ The useful life and residual value of Machine Y was reassessed to $8$ years and $$800.$

On $2$ January $2022,$ extensive repairs were carried out on Machine Y for $$12,000$ cash. Bob Ltd$.$ expected these repairs to extend Machine Y$$s useful life by $4$ years, and it revised Machine Y$$s estimated residual value to $$950.$

Bob Ltd$.$ decided to replace Machine X$.$ It traded in Machine X on $31$ March $2022$ for new Machine C$,$ which cost $$7,500.$ A $$3,800$ trade$-$in was allowed for Machine X$,$ and the balance of Machine C$$s cost was paid in cash. Transport and installation costs of $$100$ were incurred in respect to Machine C$.$ Machine C was expected to have a useful life of $8$ years and a residual value of $$800.$

Bob Ltd$.$ uses the straight$-$line depreciation method, recording depreciation to the nearest month and the nearest dollar. The end of its reporting period is $30$ June.

On $30$ June $2022,$ fair values were determined to be $$15,000$ and $$7,500$ for Machines Y and C respectively.

Required:

Prepare general journal entries to record the above transactions and the depreciation journal entries required at January $2020,30$ June $2020,30$ June $2021,$ January $2022$ and $31$ March $2022.$