On January 1, 2017, International Manufacturing purchased a machine for $880,000. The company expected the machine to remain useful for ten years and to have a residual value of $100,000. International Manufacturing uses the straight-line method to depreciate its machinery. International Manufacturing used the machine for six years and sold it on January 1, 2023, for $275,000. Read the requirements. 1. CO Requirements X 2022). The 1. Compute accumulated depreciation on the machine at January 1, 2023 (same as December 31, 2022). 2. Record the sale of the machine on January 1, 2023. Print Done