The end of the reporting period for ChiHerbal Ltd is 30 June. The company depreciates all depreciable assets using the straight-line method The following events / transactions occurred during 2017 and 2018 01 April 2017 Paid $90,000 cash for a Truck A. ChiHerbal Ltd estimated the truck's useful life and residual value at 5 years and $10,000 30 June 30 2017 Paid $140,000 cash for equipment. ChiHerbal Ltd estimated the e residual value quipment's useful life for 10 years w ith no 31 August 2017 Paid $2,500 cash for Truck A's transmission repairs and oil change 01 September 2017 ChiHerbal Ltd decided to change the basis of measuring equipment to the revaluation model. ChiHerbal Ltd directors assessed the equipment's fair value at 1 September 2017 at $115,000 with remaining life 8 years. 1 March 2018 Truck A has been sold for $59,000 cash 30 June 2018 ChiHerbal Ltd re-assessed fair value on 30 June 2018 by independent valuer and the equipment's fair value at 30 June 2018 was $120,000 Required Prepare the journal entries to record the above transactions of ChiHerbal Ltd for the financial year ended 30 June 2017 and 2018 Students are required to show depreciation entries as well as closing entry (ies) to Asset Revaluation Surplus Account only, if any (you do not need to show closing entries to P+L summary). Show all workings and narrations are compulsory. Tax effect on revaluation is ignored