Grayson's Lumber Mill sold two machines in 2022. The following information pertains to the two machines:

Machine		Cost		Purchase Date		Useful Life		Salvage Value		Depreciation Method		Date Sold		Sales Price
#1		$66,000		7/1/18		5 yrs		$6,000		Straight-line		7/1/22		$15,000
#2		$50,000		7/1/21		5 yrs		$5,000		Double-declining-balance		12/31/22		$30,000

Compute the depreciation on each machine to the date of disposal. Machine #1

Year		Year		Accumulated Depreciation
2018		$enter a dollar amount		$enter a dollar amount
2019		enter a dollar amount		enter a dollar amount
2020		enter a dollar amount		enter a dollar amount
2021		enter a dollar amount		enter a dollar amount
2022		enter a dollar amount		enter a dollar amount

Machine #2

Year		Annual Depreciation		Accumulated Depreciation
2021		$enter a dollar amount		$enter a dollar amount
2022		enter a dollar amount		enter a dollar amount

Prepare the journal entries in 2022 to record 2022 depreciation and the sale of each machine. (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 0 for the amounts.) Machine 1

Account Titles and Explanation	Debit	Credit
enter an account title to record depreciation expense	enter a debit amount	enter a credit amount
enter an account title to record depreciation expense	enter a debit amount	enter a credit amount
(To record depreciation expense)
enter an account title to record sale of machine	enter a debit amount	enter a credit amount
enter an account title to record sale of machine	enter a debit amount	enter a credit amount
enter an account title to record sale of machine	enter a debit amount	enter a credit amount
enter an account title to record sale of machine	enter a debit amount	enter a credit amount
(To record sale of machine)

Machine 2

Account Titles and Explanation	Debit	Credit
enter an account title to record depreciation expense	enter a debit amount	enter a credit amount
enter an account title to record depreciation expense	enter a debit amount	enter a credit amount
(To record depreciation expense)
enter an account title to record sale of machine	enter a debit amount	enter a credit amount
enter an account title to record sale of machine	enter a debit amount	enter a credit amount
enter an account title to record sale of machine	enter a debit amount	enter a credit amount
enter an account title to record sale of machine	enter a debit amount	enter a credit amount
(To record sale of machine)