Exercise 8-18 (Static) Partial-year depreciation; disposal of plant asset LO P2 Rayya Company purchases a machine for $105,000 on January 1, 2021. Straight-line depreciation is taken each year for four years assuming a seven-year life and no salvage value. The machine is sold on July 1,2025 , during its fifth year of service. Prepare entries to record the partial year's depreciation on July 1, 2025, and to record the sale under each separate situation. (1) The machine is sold for $45,500 cash. (2) The machine is sold for $25,000 cash. Journal entry worksheet Record the depreciation expense as of July 1, 2025. Note: Enter debits before credits. Exercise 8-18 (Static) Partial-year depreciation; disposal of plant asset LO P2 Rayya Company purchases a machine for $105,000 on January 1, 2021. Straight-line depreciation is taken each year for four y assuming a seven-year life and no salvage value. The machine is sold on July 1,2025 , during its fifth year of service. Prepare entries to record the partial year's depreciation on July 1, 2025, and to record the sale under each separate situation. machine is sold for $45,500 cash. (2) The machine is sold for $25,000cash. Journal entry worksheet Record the sale of the machinery for $45,500 cash. Note: Enter debits before credits. Exercise 8-18 (Static) Partial-year depreciation; disposal of plant asset LO P2 tayya Company purchases a machine for $105,000 on January 1, 2021. Straight-line depreciation is taken each year for four years issuming a seven-year life and no salvage value. The machine is sold on July 1,2025 , during its fifth year of service. repare entries to record the partial year's depreciation on July 1, 2025, and to record the sale under each separate situation. (i) nachine is sold for $45,500 cash. (2) The machine is sold for $25,000 cash. Journal entry worksheet Note: Enter debits before credits