Khan Ltd entered into the following transactions during the year ended 31 December 2016. Ignore GST. 

Jan. Mar. April July Sept. Oct. Dec.

4 30 1 1 1 31 31

Sold for $17600 a machine that had cost $35000 on 2 January 2013. The machine’s useful life and residual value were 5 years and $5000  respectively. Accumulated depreciation on the machine to 31 December 2015 was $18000. Scrapped a machine that cost $32000 and had accumulated depreciation of $28000. Disposal costs of $500 were incurred. Exchanged a block of land that had cost $200000 for machinery. The fair value of the land given up was $220000. Exchanged a machine with a cost of $92000 and accumulated depreciation to the date of exchange of $62000 for a new similar machine. A  trade-in allowance of $25000 was received for the old machine and $60000 was paid in cash. Sold for $45000 cash a machine that cost $105000 on 31 August 2011. The machine had a useful life of 6 years and a residual value of $9000 when purchased. On 31 December 2015, straight-line depreciation of $16 000 p.a. was recorded. No depreciation has yet been recorded for 2016. Exchanged a building with a cost of $275000 and accumulated depreciation to the date of exchange of $195000 for a machine. The fair value of the building at this date was $90000. Recorded amortisation of the company’s natural gas reserve. The reserve was purchased on 1 January 2016 for $90000000. On the date of purchase, the reserve was estimated to contain 40000000 units of natural gas and to have a residual value of $10000000. One million units of  gas were extracted and sold during 2016.

Required

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