Candy Craze purchased and installed a machine on January 1, 2023, ot a total cost of $298,200. Straight-line depreciotion was taken each year for four years, bosed on the assumption of a seven-year life and no resiclual value. The machine was disposed of on Jury 1. 2027, 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 1,2027. Journal entry worksheet Record partial year depreciation in yoor of disposal. Notel Enter debits before crecits. Record the d sposal under eoch of the following unrelated assumptions: a. The machine was sold for $114,000cash Journal entry worksheet Record the disposal under each of the following unrelated assumptions: a. The machine was sold for $114,000 cash. Journal entry worksheet Note: Enter debits before credits. b. Candy Craze received an insurance settlement of $98,000 resuling from the total destruction of the machine in a fire. Journal entry worksheet Record recelpt of $98,000 from insurance settiement. Note: Enter debits before crecits