IN the statement of financial posiition at 30 june 2020,Arrow ltd recorded the following assests(note,arrow ltd acccounts for all non-current assests under the cost mode;)

patetnt $240,000

land 300,000

plant 620,000

accumulated depreciation (340,000)

inventory 180,000

cash and cash equivalents 120,000

recivables 100,000

machinery 800,000

accumulated depreciation (240,000)

= $1,780,000

the recoverable amount of the entity was calculated to be $1660,000. the fair value less cost of disposal of the land was $280,913

Prepare the analysis and necessary journal entry,with narrations,for any impairment loss at 30 june 2020.show all workings