On December 31, 2017, Carla Inc. has a machine with a book value of $1,410,000. The original cost and related accumulated depreciation at this date are as follows. $1,950,000 Machine 540,000 Less: Accumulated depreciation $1,410,000 Book value Depreciation is computed at $90,000 per year on a straight-line basis. Presented below is a set of independent situations. For each independent situation, indicate the journal entry to be made to record the transaction. Make sure that depreciation entries are made to update the book value of the machine prior to its disposal. A fire completely destroys the machine on August 31, 2018. An insurance settlement of $645,000 was received for this casualty. Assume the settlement was received immediately. (Credit account titles are automatically indented when amount is entered. Do not indent manually, If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit August 31, 2018 Depreciation Expense 60000 Accumulated Depreciation-Machinery 60000 (To record current depreciation.) August 31, 2018 Accumulated Depreciation-Machinery 100000 1205000 Loss on Disposal of Machinery Cash 645000 .. 1950000 Machinery wwwwww (To record loss of the machine.) On April 1, 2018, Carla sold the machine for $1,560,000 to Dwight Yoakam Company. (Credit account titles are automatically indented when 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.) Date Account Titles and Explanation Debit Credit April 1, 2018 Depreciation Expense 22500 Accumulated Depreciation-Machinery 22500 (To record current depreciation.) April 1, 2018Accumulated Depreciation- Machinery 62500 327500 Cash 1560000 Machinery 1950000 the machine.) (To record sale On July 31, 2018, the $1,650,000. (Credit pany donated this machine to the Mountain King City Council. The fair value of the machine at the time of the donation was estimated to be titles are automatically indented when amount is entered. Do not indent manually. If no entry is rogulred select "No Entry" for for the amounts.) the account titles and enter Credit Date Account Titles and Explanation Debit July 31, 2018 Depreciation Expense 52500 Accumulated Depreciation-Machinery 52500 (To record current depreciation.) July 31, 2018 Donations 1650000 Accumulated Depreciation-Machinery 92500 Loss on Disposal of Machinery 207500 Machinery 1950000 (To record donation of the machine.) Open Show Work Click if you would like to Show Work for this question: SHOW LIST OF ACCOUNTS