On 1 July 2015, Lini Ltd. acquired a new machine on cash. Information on the machine is as follows:

Purchase cost	$40,250
Transportation to Lini Ltd.	$1,750
Assembly and testing at Lini Ltd.	$2,000
Expected useful life	10 years
Depreciation method	Straight line

In June 2017, Lini Ltd. revised the estimated useful life to a remaining of 4 years. These revised estimates were made before recording the depreciation for the financial year ended 30 June 2017.

On 30 June 2017, the company adopted the revaluation model to account for the machine. An independent valuer assessed the fair value of the machine to be $27,000 at that date.

On 30 June 2018, depreciation for the year was charged and the fair value of the machine was assessed to be $25,000.

At the end of December 2018, the machine was sold for $18,000 cash.

Lini Ltd. has a financial year end of 30 June. The income tax rate is 30%.

Required

Prepare general journal entries to record the transactions and events for the period 1 July 2015 to 31 December 2018.