Coomans Ltd, which started operations on 1 October 2013, prepared the following account balances as at 30 June 2016:

Machinery (at cost) Accumulated Depreciation – Machinery Vehicles (at cost; purchased 20 February 2014) Accumulated Depreciation – Vehicles

$310000 170 500 160000 59 200

Details of machines owned at 30 June 2016 were:

Machine		Purchase date		Cost		Useful life		Residual value
1 2 3		2 October 2013 27 December 2013 29 July 2014		$80000 130000 100000		4 years 5 years 4 years		$8 000 5000 4000

Additional information

(a) Coomans Ltd calculates depreciation to the nearest month and balances its accounts at month-end. Recorded amounts are rounded to the nearest dollar, and end of the reporting period is 30 June.

(b) The company uses straight-line depreciation for all depreciable assets except vehicles, which are depreciated using the diminishing-balance method at a rate of 30% p.a.

(c) The Vehicles account balance reflects the total paid for four identical delivery vehicles, each of which cost $40000.

The following transactions occurred from 1 July 2016 onwards:

2016
Aug. Nov. Dec. 2017 March June Sept.	3 15 30 5 30 20	Purchased a new machine (Machine 4) for a cash price of $115000. Installation costs of $5000 were also paid. The company estimated the useful life and residual value at 5 years and $10000 respectively. Paid vehicle repairs of $1200. Exchanged one of the vehicles for items of fixtures that had a fair value of $22000 at the date of exchange. The fair value of the vehicle at the date of exchange was $18000. The fixtures originally cost $50000 and had been depreciated by $31000 to the date of exchange in the previous owner’s accounting records. Coomans Ltd estimated the fixtures’ useful life and residual value at 5 years and $2000 respectively. Paid $12000 to overhaul Machine 1, after which Machine 1’s useful life was estimated at 3 remaining years and its residual value was revised to $4000. Recorded depreciation expense. Traded in Machine 3 for a new machine (Machine 5). A trade-in allowance of $20000 was received for Machine 3 and $110000 was paid in cash. The company estimated Machine 5’s useful life and residual value at 6 years and $5000 respectively.

Required

Prepare journal entries in general journal form to record the transactions.