Exercise 9-21 Partial year's depreciation; disposal of PPE LO2, 3, 6 Candy Craze purchased and installed a machine on January 1, 2020, at a total cost of $307,300. Straight-line depreciation was taken each year for four years, based on the assumption of a seven-year life and no residual value. The machine was disposed of on July 1, 2024, 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, 2024 View transaction list Journal entry worksheet Record partial year depreciation in year of disposal. Note: Enter debits before credits. Date General Journal Debit Credit July 01, 2024 Record the disposal under each of the following unrelated assumptions: a. The machine was sold for $127,000 cash. View transaction list Journal entry worksheet Record the sale of machine for $127,000. Note: Enter debits before credits. Date General Journal Debit Credit July 01, 2024 b. Candy Craze received an insurance settlement of $101,000 resulting from the total destruction of the machine in a fire. View transaction list Journal entry worksheet Record receipt of $101,000 from insurance settlement. Note: Enter debits before credits. Date General Journal Debit Credit July 01, 2024 Record entry Clear entry View general journal