January 1, 2021, The Fio Corporation purchased a machine for $480,000. The corporation estimated a 5 year useful life (or 100,000 units of useful life) and $20,000 residual/salvage value. 30,000 Units were produced in 2021.

Method	Depreciation expense	Accumulated depreciation		Book value
Straight-line for 2021
Double-declining balance 2021
Double-declining balance 2022
Units-of-production 2021

What would the journal entry be if the straight-line method was used and the machine was sold on 12/31/2021 for $370,000?

Complete the following table using the indicated depreciation method and year for each row of the table.