Sunshine Recycling Ltd is a newly established recycling company. On 1 July 2023, Sunshine Recycling Ltd acquired a recycling machine with cash paid $210,000 on the machine. The recycling machine was estimated on the acquiring date that it had a useful life of six years and a residual value of $30,000. Sunshine Recycling Ltd uses the revaluation model as its accounting policy to measure items of property, plant and equipment in accordance with AASB 116 Property, Plant and Equipment. The straight-line method of depreciation was decided to be applied. Sunshine Recycling Ltd has a 30 June reporting date. An independent valuer provided the following fair values for the machine:

Reporting date Fair value 30 June 2024 $200,000 30 June 2025 154,000 30 June 2026 108,000 On 1 April 2027, the machine was sold for $90,000 cash. Required Prepare appropriate journal entries to account for the events and transactions in relation to the machine between 1 July 2023 and 1 April 2027. Round all amounts to the nearest whole dollar. The following resources useful in answering this question: AASB 116 Property, Plant and Equipment. Module Seven Learning Guide: pp. 19 - 29 and pp. 37 - 45. Both documents are available on the ACCT19062 Moodle site.