X Ltd purchased a machinery on 1 July 2021 for $300,000 by paying cash. The machinery...

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X Ltd purchased a machinery on 1 July 2021 for $300,000 by paying cash. The machinery was revalued downwards to $200,000 on 1 January 2023. The same machinery was revalued to $260,000 on 30 June 2023. X Ltd depreciates the machinery by using straight line method by applying 10%. 8 9 11 v 12 Required: Prepare the necessary journal entries as per AASB 116 "Property, plant and Equipment" on 30 June 2023. Ignore the tax effect. (Narrations are not required). X Ltd purchased a machinery on 1 July 2021 for $300,000 by paying cash. The machinery was revalued downwards to $200,000 on 1 January 2023. The same machinery was revalued to $260,000 on 30 June 2023. X Ltd depreciates the machinery by using straight line method by applying 10%. 8 9 11 v 12 Required: Prepare the necessary journal entries as per AASB 116 "Property, plant and Equipment" on 30 June 2023. Ignore the tax effect. (Narrations are not required).