Chris's Lumber Mill sold two pieces of equipment in 2022. The following information pertains to the two pieces of equipment: Useful Life Salvage Value Depreciation Method Machine Sales Price Date Sold Purchase Cost Date $111,800 7/1/18 $123,500 1/1/21 5 yrs $7,800 Straight-line 7/1/22 $6,500 Double-declining-balance 12/31/22 $26,000 $48,100 #2 5yrs Compute the depreciation on each piece of equipment to the date of disposal. Machine #1 Annual Depreciation Accumulated Depreciation Year 2018 $ 2019 2020 2021 2022 Machine #2 Annual Year Depreciation 2021 $ Accumulated Depreciation 2022 eTextbook and Media List of Accounts Prepare the journal entries in 2022 to record 2022 depreciation and the sale of each piece of equipment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Machine 1 Account Titles and Explanation Debit Credit (To record depreciation expense) (To record sale of equipment) Machine 2 Account Titles and Explanation Debit Credit (To record depreciation expense) (To record sale of equipment)