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6 Rayya Co. purchases a machine for $105,000 on January 1, 2019. Straight line depreciation is taken each year for four years assuming a seven-year
6 Rayya Co. purchases a machine for $105,000 on January 1, 2019. Straight line depreciation is taken each year for four years assuming a seven-year life and no salvage value. The machine is sold on July 1, 2023, during its fifth year of service. Prepare entries to record the partial year's depreciation on July 1, 2023, and to record the sale under each separate situation. (1) The machine is sold for $45,500 cash. (2) The machine is sold for $25,000 cash. View transaction list Journal entry worksheet 1 Record the depreciation expense as of July 1, 2023. Note: Enter debits before credits Debit Credit General Journal Date July 01, 2023 O E ere to search list entry worksheet 2 3 de Accumulated amortization Accumulated depletion Accumulated depreciation-Machinery bits Amortization expense 3 son list I entry worksheet 2 3 Building che de Cash Depletion expense debits Depreciation expense Gain on sale of machinery e 2023 old for $45,500 ction list al entry worksheet 2 3 Mineral deposit the de Ore mine Prepaid rent Rent expense r debits Repairs expense e 2023 on list entry worksheet 2 3 Ore mine he de Prepaid rent Rent expense Repairs expense debits Vehicles 2023 View transaction list 428 oints Journal entry worksheet
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