1. Compute accumulated deprecation on the machine at January 1, 2023 (same as December 21, 2022).

2. Record the sale of the machine on January 1, 2023.

On January 1, 2020, US Manufacturing purchased a machine for $910,000. The company expected the machine to remain useful for ten years and to have a residual value of $70,000. US Manufacturing uses the straight-line method to depreciate its machinery. US Manufacturing used the machine for three years and sold it on January 1, 2023, for $250,000. Read the requirements. 1. Compute accumulated depreciation on the machine at January 1, 2023 (same as December 31, 2022). The accumulated depreciation is Journal Entry \begin{tabular}{cccc} \hline Date & Accounts & Debit & Credit \\ \hline & & \end{tabular}