Baladiya Company buys machinery on January 1, 2018 for $159,600. Straight-line depreciation is taken cach year for four years assuming a cight-your life and Do salvage value. The machine is sold on July 1, 2022. (Round your answers to the nearest whole dollar) Required: Prepare the joumal entries on July 1, 2022 to update depreciation and to record the sale of the machinery for $67,032 cash. View transaction list Journal entry worksheet 2 Prepare the journal entry to update depreciation on July 1, 2022. Note: Enter debites before credits General Journal Dobit Credit Date July 01, 2022 Record entry Clear entry View general Journal Journal entry worksheet Record the sale of the machinery for $67,032 cash. Note: Enter debits before credits Goneral Journal Debit Credit Date July 01, 2022 Record entry Clear entry View general Journal