On December 31, 2020, Skysong Inc. has a machine with a book value of $1,090,400. The original cost and related accumulated depreciation at this date are as follows. Machine Less: Accumulated depreciation Book value $1.508,000 417,600 $1,090,400 Depreciation is computed at $69,600 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. Date Debit Credit st 31, 2021 46400 Account Titles and Explanation Depreciation Expense Accumulated Depreciation Machinery (To record current depreciation.) Cash 46400 st 31, 2021 498800 Accumulated Depreciation Machinery 464000 545200 Loss on Disposal of Machinery Machinery (To record loss of the machine.) 1508000 On April 1, 2021, Skysong sold the machine for $1,206,400 to 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 for the amounts) Date Account Titles and Explanation Debit Credit April 1, 2021 (To record current depreciation.) April 1, 2021 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