Candy Craze purchased and installed a machine on January 1, 2020, at a total cost of $296,800. Straight-line depreciation was taken each year for four years, based on the assumption of a seven-year life and no residual value. The machine was disposed of on July 1, 2024, during its fifth year of service Candy Craze's year-end is December 31 Required: Present the entries to record the partial year's depreciation on July 1, 2024 View transaction list Journal entry worksheet 1 Record partial year depreciation in year of disposal Note: Enter debits before credits Record the disposal under each of the following unrelated assumptions: a. The machine was sold for $112,000 cash. View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 Jul 01 2024 Canh b. Candy Craze received an insurance settlement of $96,000 resulting from the total destruction of the machine in a fire. View transaction list View Journal entry worksheet 01:52:58 No Dato General Journal Debit Credit