Spring Company adopts the LOSt motel of IAS $15$ for its property, plant, and equipment $($PPE$)$ Dn I January $2018,$ the company purchased a machine at a cost of $90000$ OMR the useful of the machine was estimated a: $$ Ind it was also estimated that the machine will have zero salvage value at the end of its useful life.

At the end nf onon thare were some technalcgical changes in the industry and there were somp changes in macroeconomic conditions such as inflation and interest rates. Due to those new conditions, the marlagement evaluated that there may be impairment in its PPE and decided to make an impairment test. As the result of impairment test of the machine, fair market value of the machine was $51005$ and cost of disposal was $2500$ and the present value of future cash flows from the use of the machine was calculated as

On $31$ December $2022,$ the conditions have changed and required the reversal of the impairment. As of this date, the recoverable amount was determined as $72500$ OMR. Make the journal entries for both impairment tests. $($Show all calculations.$)$