On December 31, 2019, Teal Mountain Inc. owns a machine with a carrying amount of $834,000. The original cost and accumulated depreciation for the machine on this date are as follows:

Machine		$1,410,000
Accumulated depreciation		576,000
		$834,000

Depreciation is calculated at $96,000 per year on a straight-line basis. A set of independent situations follows. For each situation, prepare the journal entry for Teal Mountain Inc. to record the transaction. Ensure that depreciation entries are recorded to update the machine's carrying amount before its disposal. Assume that Teal Mountain Inc. uses IFRS for financial statement purposes.

1)A fire completely destroyed the machine on August 31, 2020. An insurance settlement of $428,000 was received for this casualty. Assume the settlement was received immediately. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

2)On April 1, 2020, Teal Mountain sold the machine for $1,044,000 to Sandhill Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

3)On July 31, 2020, the company donated the machine to the Dartmouth City Council. The machines fair value at the time of the donation was estimated to be $1.1 million. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

4)Would the treatment of situations (a) through (c) differ if presented under ASPE instead of IFRS?