A company purchased and installed Equipment on January 1 at a total cost of $217,900. Straight-line depreciation was calculated based on the assumption of a eight-year life and $4,900 salvage value. The Equipment was disposed on January 1 of year six. The company uses the calendar year. 1. Prepare the general journal entry to update depreciation to January 1 of Year 6. (Hint: Consider how many years have passed and there depreciated.) 2. Prepare the general journal entry to record the sale of the machine for $36,000 cash. Prepare a table for the journal entries and show your work for partial credit