Question (12 marks) Diamond Ltd acquired an item of polishing equipment ata acquired an item of polishing equipment on 1 July 2013 for $440 000. The equipmen expected to have a useful life of 10 years and the straight-line method of depreciatio straight-line method of depreciation is to be used. It has salvage value of 40000. On 1 July 2015 the equipment is deemed to have a fair value and revaluation is undertaken in accordance with the Diamond Ltd policy of measuring the Diamond Ltd policy of measuring property, plant and equipment at fair value. The asset is still usable for next 8 years but the sa usable for next 8 years but the salvage value is determined to be zero. The asset is sold for $356 000 on 1 July 2017. Required: Provide the journal entries necessary at the following dates to account for the above transactions and events. 01/07/2013 (2 marks) 01/07/2015 (4 marks) 01/07/2017 (6 marks)