In the 30 June 2019 annual report of Sydney Ltd reported the following:

Plant (at cost)	400 000
Accumulated Depreciation	(140 000)

260 000

Plants are measured using the cost model, and depreciated on a straight-line basis over a 10-year period. At 30 June 2019, Plant was assessed to have a fair value of $250 000 with an expected useful life of 5 years. At 30 June 2020, Plant was assessed to have a fair value of $ 230 000

Required

Prepare the journal entries during the period 30 June 2019 to 30 June 2020 in relation to the Plant. (Please ignore the tax effect.)

DATE

ACCOUNT NAME

DR ($)

CR ($)