4 (20 marks) Jasra Brother Ltd. acquired an item of machinery on 1 July 2019 for a cost of $120 000. When the asset was acquired, it was considered that the asset would have a useful life to the entity of five years, after which time it would have no residual value. It was considered that the pattern of economic benefits would best be reflected by applying the sum-of-digits method. Contrary to expectations, on 1 July 2021, the asset was sold for $80 000. Q4(a) P the depreciation schedule by applying sum-of-digits method: (15 marks) H-E- BAX, x" x D Q4(b) Calculate the profit on disposal and prepare the journal entry to record the disposal? (5 marks) HYMY B I AX, X' 2. 66 X