Swan Ltd purchased vintage equipment on 1 July 2021 for $119 400 cash. Transport and installation costs of $12 600 were paid on 5 July 2021. Useful life and residual value were estimated to be 10 years and $5400 respectively.

Swan Ltd depreciates equipment using the straight-line method to the nearest month, and reports annually on 30 June. All calculations are rounded to the nearest dollar. The tax rate is 30%

• On 30 June 2023, Swan Ltd decides to adopt the revaluation model to account for equipment. The fair value of equipment on this date is $90 000.
• On 30 June 2024, the fair value of equipment is $100 000.
• On 30 September 2024, the equipment is sold for $95 000 cash.

Required:

1. Prepare general journal entries to record depreciation and a revaluation of the equipment on 30 June 2023.
2. Prepare general journal entries to record depreciation and a revaluation of the equipment on 30 June 2024.
3. Prepare general journal entries to record depreciation and the sale of the equipment on 30 September 2024.