In the 01 July 2016, Samsung Ltd acquired the machine A by $1,502,000. Estimated

useful life is 10 years, estimated residual value is $2,000. Company uses straight-line

method for depreciation. From 2019, Samsung Ltd measure the machine A by the

revaluation model. At 30 June 2019, machine A was revalued to $ 1,400,000. After one

year, at 30 June 2020, machine A was revalued to $1,000,000. At 30 June 2021, machine

A was revalued to $1,500,000.

Required:

Prepare the journal entries from 01 July 2016 to 30 June 2021. (using both method for

revaluation)