,4 loss on disposal) S7-15. (Learning Objectives 3, 4: Compute depreciation; record a gain or loss on di On January 1, 2017, Worldwide Manufacturing purchased a machine for $810,000 that expected to have a useful life of four years. The company estimated that the residual val the machine was $50,000. Worldwide Manufacturing used the machine for two years and en it on January 1, 2019, for $350,000. As of December 31, 2018, the accumulated depreciation the machine was $380,000. 1. Calculate the gain or loss on the sale of the machinery. 2. Record the sale of the machine on January 1, 2019