2/18 w Policies Show Attempt History Current Attempt in Progress On December 31, 2020. Marigold Inc. hasa machine with a book value of $1.184,000. The original cost and related cold depreciation at this date are as follows. $1.638,000 Machine Less: Accumulated dippreciation 453.600 Book value $1.184 400 Depreciation is computed at $75,600 per year on a straight line basis. Presented below is a set of independent situations. For each independent situation, Indicate the journal entry to be made to record the transaction. Make sure that depreciation entries are made to update the book value of the machine prior to its disposal (a) Your answer is correct Aire com destroys the machine on Augint 31.2021. An insurancement of $541.800 was received for this casualty Assume the settlement was received immediately. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually. If no entry inquired, select "No Entry for the account tities and enter for the amounts) Date Account Titles and Explanation Debit Credit qust 31, 2021 Depreciation Event 50400 Arculated Dopreciation Machinery 50400 (To record current depreciation) agust 31, 2021 541800 Lesson Disposal of Machinery 592200 Accumulated Depreciation Machinery 504000 Machinery 1638000 (To record loss of the machine.) O F - c O Rain coming 100 AM 412422 2.67/8 1 On April 1.2021. Marigold sold the machine for $1,310,400 to Yoakam Company Credit accounts are automatically indented when amount is entered. Do not indent manually. If no entry is required select "No Entry for the account titles and enter for the amounts Date Account Titles and Explanation Debit Credit April 1.2021 I To record current depreciation) April 1. 2021 (To record sale of the machine.)