Fill according to the calendar dates in the journal entry section. Please put the date beside your answer.

Follow exactly according to the above journal entries, inputting answers to each and every one of the blanks.

Entity A is a locally listed company. It owns a motor van that was involved in an accident at the year-end of 2023. This motor van is barely useable, so the value in use is estimated at $2,268,800. However, the motor van is a common model and there is a demand for its parts. This results in a fair value of $2,356,000 and costs of disposal of $89,000 respectively. On 1 January 2023 , the carrying amount of the motor van was $8,895,000 and the van was estimated to have a remaining useful life of 20 years. REQUIRED: According to the accounting standards, prepare the relevant journal entries of the impairment loss on 31 December 2023. ACCOUNTS FOR INPUT: | Plant | Motor van | Machine | Land | Building | Bank | Payable | Receivable | No entry | | Retained earnings | Other income | Other expense |Interest expense | Interest revenue | | Depreciation | Accum. depreciation | Impairment loss | Reversal of impairment loss | | Restoration liability | Loss on disposal | Gain on disposal | Revaluation surplus | Revaluation deficit | | Reversal of revaluation surplus | Reversal of revaluation deficit | ANSWERS