2 and 3 are the follow up questions

SolMfg Company purchased a new machine for $150,000 on September 1, 2020. It is estimated that the machine will have $30,000 residual value at the end of its 5-year useful service life. Please prepare a depreciation schedule which shows the annual depreciation expense on the machine for its 5-year life. Instructions (1) Company is using straight line depreciation method; Year Depreciable amount Annual Depreciation expense Accumulated Depreciation Book Value End of Year Rate 2020 2021 2022 2023 2024 2025 (2) Please prepare a journal entry on December 31, 2020 to record 2020 depreciation (3) The Company sold the machine on June 30,2023 for $75,000 cash. Please prepare journal entries on June 30,2023