XYZ Pty Ltd spent $200,000 to purchase a new equipment on 1 July 2016. The equipment was expected to have a useful life of 10 years, with residual value of $5,000, under straight-line depreciation method. The company used the revaluation method for valuing its equipment. Equipment was revalued every two years. The first time equipment was revalued was at 30 June 2018, and at this date the fair value was at $160,000. On 30 June 2019, the company conducted impairment testing and found that the equipment's fair value less cost sell to be $125,000 and its value in use to be $135,000. Write the journal entry to record the impairment of equipment on 30 June 2019 (if any) (1 mark)