Hanshew's Lumber Mill sold two machines in 2017. The following information pertains to the two machines: Purchase Useful Residual Depreciation Sales Machine Cost Date Life Value Method Date Sold Price #1 88,000 7/1/13 8,000 Straight-line 7/1/17 20,000 #2 70,000 7/1/16 7,500 Double-declining- 12/31/17 42,000 5 yrs. 5 yrs. balance Instructions (a) Compute the depreciation on each machine to the date of disposal. (b) Prepare the journal entries in 2017 to record 2017 depreciation and the sale of each machine