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On 1 July 2014, Atropos Company purchased a depreciable asset at a cost of $1.2 million. The asset had an estimated useful life of 12

On 1 July 2014, Atropos Company purchased a depreciable asset at a cost of $1.2 million. The asset had an estimated useful life of 12 years and was depreciated on a straight-line basis. The recoverable amounts of the asset were as follows:

2015 - 1000,000

2016 - 900 000

2017- 800,000

2018 - 850,000

indicators of impairment were identified on 30 June 2015, 2016 and 2017, while indicators of a reversal of impairment were found on 30 June 2018. The asset was sold on 1 July 2018 for $860 000. Required Assuming that the company adopts the cost model for accounting for non-current assets and complies with AASB 116 Property, Plant and Equipment and AASB 136 Impairment of Assets, show the general journal entries for the asset from 1 July 2014 to 1 July 2018.

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