THE FOLLOWING INFORMATION RELATES TO QUESTIONS 3 TO 4 On 1 July 2017, T&M Ltd acquired a depreciable item of plant with an estimated useful life of six (6) years at a cost of $600,000. T&M Ltd adopts: requirements of AASB 116 Property, Plant and Equipment and AASB 136 Impairment of Assets the cost model to account for the plant with depreciation on a straight-line basis and an estimated zero (0) residual value; and a 30 June financial year end date. No indicators of impairment or impairment loss reversal existed at any time during the year ended 30 June 2018. Indicators of impairment were identified for the plant in the year ended 30 June 2019 and there were indications that the plant was no longer impaired on 30 June 2020. The recoverable amounts of the plant are as follows: Year 30 Junie 2019 Recoverable Amount $380,000 30 June 2020 $320,000 Question 3 5 pts Recommended time to complete: 8 minutes Required: Prepare all journal entries in relation to the item of plant for the year ended 30 June 2019 ONLY. Include all workings and ignore tax. Narrations are not required. Note: In your answer it is advisable to build a table with headings. Below is a suggested form of presentation. Use Insert table tool () in the editing tool bar above to build the table and enter your answer into the table. Additional lines maybe required. Workings can be included above the table. Workings: Date Particulars $ Debit $ Credit D Question 4 7 pts Recommended time to complete: 11.2 minutes Required: Prepare all journal entries in relation to the item of plant for the year ended 30 June 2020 ONLY Include all workings and ignore tax. Narrations are not required. Note: In your answer it is advisable to build a table with headings. Below is a suggested form of presentation. Use Insert table tool () in the editing tool bar above to build 21 the table and enter your answer into the table. Additional lines maybe required. Workings can be included above the table. Workings: Date Particulars $ Debit $ Credit auto.proctoru.com. reat