On 31 December 2018 Fraser Ltd's Balance Sheet Shows Motor

On 31 December 2018 Fraser Ltd's balance sheet shows motor vehicles at a cost price of $400 000 less accumulated depreciation $100 000. Fraser Ltd uses the cost model to value its assets. On 31 December 2018 an estimate is made that the recoverable amount of the vehicles is $270 000. Under IAS 36/AASB 136, Impairment of Assets, the accounting entry to record the write down of the motor vehicles to recoverable amount is which of the following?

A) DR Impairment loss on motor vehicles (expense) $130 000; CR Accumulated depreciation $130 000
B) DR Impairment loss on motor vehicles (expense) $30 000; CR Accumulated depreciation and impairment losses $30 000
C) DR Impairment loss on motor vehicles (expense) $30 000; CR Motor vehicles $30 000
D) No entry is required