In the 30 June 2016 annual report of Payback Ltd, the equipment was reported as follows: Equipment (at cost) Accumulated Depreciation $ 500 000 (150 000) 350 000 The equipment consisted of two machines, Machine A and Machine B. Machine A had cost $300 000 and had a carrying amount of $180 000 at 30 June 2016, and Machine B had cost $200 000 and was carried at $170 000. Both machines are measured using the cost model, and depreciated on a straight-line basis over a 10-year period. On 31 December 2016, the directors of Payback Ltd decided to change the basis of measuring the equipment from the cost model to the revaluation model. Machine A was revalued to $180 000 with an expected useful life of 6 years, and Machine B was revalued to $155 000 with an expected useful life of 5 years. At 30 June 2017, Machine A was assessed to have a fair value of $163 000 with an expected useful life of 5 years, and Machine B's fair value was $136 500 with an expected useful life of 4 years. Required Prepare the journal entries during the period 1 July 2016 to 30 June 2017 in relation to the machine A.