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Public Berhad transferred a machine to 75% owned subsidiary Queen Berhad on 1 May 2018 for RM500,000. The carrying amount of the machine on 1

Public Berhad transferred a machine to 75% owned subsidiary Queen Berhad on 1 May 2018 for RM500,000. The carrying amount of the machine on 1 May 2018 was RM400,000, and on this date the asset was estimated to have four years of useful life left,

Prepare the journal entries in respect of the transfer.

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