Thiem Bhd acquired a new high-tech machine to produce kitchen appliances on 1 January 2017. The purchase price of the machinery was RM60.000.000 with an estimated useful life of five years and zero salvage value. The company also owned freehold properties which were revalued at 31 December 2017 to RM1.000.000 resulting in a revaluation surplus of RM150,000. On 1 January 2018, the remaining useful life of the asset was five years and it is the company's policy to depreciate the asset on a straight line basis. In 2018, the demand for the kitchen appliances dropped significantly due to the emergence of a similar product from a competitor. For the year ended 31 December 2018, the company decided to provide for impairment losshof both assets. It was determined that the value in use of the machine was RM15.000.000 and the recoverable amount of the freehold properties was RM600,000. It was not economically feasible to determine the market price of the machine at that point in time. In 2019, the competitor for the kitchen appliances had stopped production due to financial difficulties. Demand for Thiem Bhd's kitchen appliances increased. On 31 December 2019, the recoverable amount of the machine through the production and sale of the kitchen appliances were expected to be RM65,000,000 and the recoverable amount of the properties was estimated to be RM1,500,000. points Prepare the journal entries to record the impairment loss for machine for the year ended 31 December 2018. (show all workings)