Deduhin Ltd acquired two new machines for cash on 1 January 2017. The cost of machine A was

$400 000, plus GST and of machine B, $600 000, plus GST. Each machine was expected to have a useful life of 10 years,

and residual values were estimated at $20 000 for machine A and $50 000 for machine B.

Because of technological advances, Deduhin Ltd decided to replace machine A. It traded in

machine A on 31 March 2021 for a new machine, C, which cost $420 000. A $200 000, plus GST trade-in was

allowed for machine A, and the balance of machine C's cost was paid in cash. Machine C was

expected to have a useful life of 8 years and a residual value of $20 000.

On 2 July 2021, extensive repairs were carried out on machine B for $66 000 cash. Deduhin Ltd

expected these repairs to extend machine B's useful life by 4 years and it revised machine B's

estimated residual value to $19 500. Machine B was eventually sold on 1 April 2023 for $300 000, plus GST,

cash.

on 1 July 2023, Deduhin Ltd decided to use the revaluation model for valuation of Machine C. The fair value of Machine C was assessed to be $220000 and the future useful life was estimated to be 5 years, residual value remains the same.

Deduhin Ltd uses the straight-line depreciation method, recording depreciation to the nearest whole month. The end of the reporting period is 30 June

Please make the general journal to record the transaction and also provide a depreciation journal entries required at end of each reporting period up to 30 June 2024.

also please provide a detailed working as how to solve the question