Baladiya Company buys machinery on January 1, 2018 for $126,000. Straight-line depreciation is taken each year for four years assuming eight-yent life and no salvage value. The machine is sold on July 1, 2022 (Round your answers to the nearest whole dollar) Required: Prepare the journal entries on July 1, 2022 to update depreciation and to record the sale of the machinery for $82,920 cmh. View transaction list Journal entry worksheet