Refer to the information in CP 8-4 and 8-7. Assume Mayr disposed of the machine on May

Question:

Refer to the information in CP 8-4 and 8-7. Assume Mayr disposed of the machine on May 31, 2019.
Required: Using the straight-line method of depreciation, record the
disposal assuming
1. The equipment was sold for $60,000
2. The equipment was sold for $85,000
3. The equipment was sold for $71,250.
Show all calculations.