Teddy Ltd. Has determined that its fine china division is a cash-generating unit. The carrying amount of the assets at June 30, 2020 are as follows:

Factory building	$210,000
Land	150,000
Equipment	120,000
Inventory	60,000

Teddy Ltd. calculated the recoverable amount of the division to be $510,000.

Required:

Prepare journal entry to record the impairment loss (if any) on June 30, 2020. Show all your workings.