Current Attempt in Progress On December 31, 2025, Bonita Inc, has a machine with a book value of $1,109,200. The original cost and related accumulated depreciation at this date are as follows. Depreciation is computed at $70,800 per year on a straight-line basis. Presented below is a set of independent situations. For each independent situation, indicate the journal entry to be made to record the transaction. Make sure that depreciation entries are made to update the book value of the machine prior to its disposal. \{a) AfirecompletelydestroysthemachineonAugust31,2026.An insurance settlement of $507,400 was received for this casualty. Assume the settlement was received immediately. (Credit account tutes are automutically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tites and enter 0 for the amounts. List all debit entries before credit entries.)