Question 5 On 1 July 2015, Button Ltd had purchased 3 machines for different purposes. On 30 June 2016, there was an indication that the machines could be impaired due to a fall in demand, so Dragon Ltd calculated the recoverable amount of the machines. Button Ltd uses straight-line depreciation over an 8-year period. Assume that all 3 machines had nil residual value at the end of their lives. Machine Cost Value in use Net selling price 54,000 45,000 49,000 N 38,000 27,000 30,000 3 24,000 16,000 20,000 116,000 Required: Record all entries related to these assets for the years ended 30June 2016 and 2017. Ignore narrations