$87,500 Prorement 35,000 $53,500 175000 50%. od 30% $ 163,000 $ 163,000 $ 163,000 #81,500 $32.600 $48,900 #163,000 15. A company purchased and installed a machine on January 1 at a total cost of $72.000. Straight-line depreciation was calculated based on the assumption of a 5-year life and no salvage value. The machine was disposed of on July 1 of the 4th year. a. Prepare the general journal entry to update depreciation on July 1 in the fourth year. b. Prepare the general journal entry to record the disposal of the machine under each of these three independent situations: A. The machine was sold for $22.000 cash. B. The machine was sold for $15,000 cash. C. The machine was totally destroyed in a fire and the insurance company settled the claim for $18,000 cash