Journal Entry Sheet (1) - Record the depreciation expense as of July 1, 2022.

Journal Entry Sheet (2) - Record the sale of machinery for $79,200 cash.

Journal Entry Sheet (3)- Record the insurance settlement received of $63,360 due to the machine's total destruction in a fire.

Rayya Co. purchases and installs a machine on January 1, 2018, at a total cost of $184,800. Straight-line depreciation is taken each year for four years assuming a seven-year life and no salvage value. The machine is disposed of on July 1, 2022, during its fifth year of service Prepare entries to record the partial year's depreciation on July 1, 2022, and to record the disposal under the following separate assumptions: (1) The machine is sold for $79,200 cash (2) An insurance settlement of $63,360 is received due to the machine's total destruction in a fire. View transaction list Journal entry worksheet