XYZ Ltd is an entity that specializes in the manufacture of sports shoes. The company reported the following assets in its statement of financial position on $30$ June $2023,$ the entire company would be considered as a single cash$-$generating unit:

Cash $$380000$

Inventory $220000$

Factory Building $980000$

Accumulated depreciation $$ factory $(280000)$

Patent $330000$

Accumulated amortization$-$Patent $(230000)$

Land $200000$

$3$

$$1600000$

Because of the competition from overseas as customers pursue a strategy of buying online rather than visiting XYZ Ltd$$s stores, XYZ Ltd assessed its impairment position on $30$ June $2023.$ The indicators suggested that an impairment loss was probable. XYZ Ltd calculated a recoverable amount of $$1400000$ for its company.Required

Prepare the journal entry$($ies$)$ for any impairment loss occurring on $30$ June $2023($Show all your workings including the application of pro$-$rata method$).$