n 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.)