XYZ Ltd is an entity that specialises in the manufacture of leather footwear for women. The company reported the following assets in its statement of financial position at 30 June 2021, the entire company would be considered as a single cash generating unit:

Cash $260 000

inventory 300 000

Factory Building 900 000

Accumulated depreciation factory (100 000)

Machinery 600 000

Accumulated depreciation machinery (200 000)

Goodwill 40 000

$1 800 000

Because of the competition from overseas as customers pursue a strategy of buying online rather than visit XYZ Ltds stores, XYZ Ltd assessed its impairment position at 30 June 2021. The indicators suggested that an impairment loss was probable. XYZ Ltd calculated a recoverable amount of its company of $1 700 000.

Required

Prepare the journal entry(ies) for any impairment loss occurring at 30 June 2021 (Show all your workings including the application of pro-rata method).

and Please provide your journal entries in the following table:

DATE ACCOUNT NAME DR ($) CR ($)