Candy Craze purchased and installed a machine on January 1, 2017, at a total cost of $305,200. Straight-line depreciation was taken each year for four years (2017-2020), based on the assumption of a seven-year life and no residual value. The machine was then disposed of on July 1, 2021, 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, 2021. Record the disposal under each of the following unrelated assumptions: a. The machine was sold for $124,000 cash. b. Candy Craze received an insurance settlement of $98,000 resulting from the total destruction of the machine in a fire