On 1 July 2021, Chicken Ltd acquired a machine for $156,000. On 1 July 2021, the machine was estimated to have useful life of 5 years and residual value was estimated to be $16,000. The machine is to be depreciated using the straight-line method. On 30 June 2022, Chicken Ltd's directors decided to adopt the revaluation model for the machine and revalued the machine on the same date to its estimated fair value of $116,000. On 1 July 2022, it was determined that the remaining useful life of the machine to be 4 years, and the residual value date was revised from $16,000 to $12,000. On 30 June 2023, the machine was to be valued at its fair value of $104,000. On 1 July 2023, the remaining useful life of the machine will still be 4 years with the estimated residual value remained unchanged at $12,000. On 31 December 2023, the machine was sold unexpectedly for $100,000. Required: Prepare journal entries to account for all transactions that took place during the period 1 July 2021 to 31 December 2023, including entries for the acquisition of the machine, depreciation, revaluations, and its disposal. Show all relevant dates, narrations, and workings. Note: you are not required to account for income tax associated with revaluations.