On January 1, 2017, Regal Manufacturing purchased a machine for $900,000. The company expected the machine to remain useful for ten years and to have a residual value of $60,000. Regal Manufacturing uses the straight-line method to depreciate its machinery. Regal Manufacturing used the machine for three years and sold it on January 1, 2020, for $250,000. Read the requirements. 1. Compute accumulated depreciation on the machine at January 1, 2020 (same as December 31, 2019) The accumulated depreciation is $ 2. Record the sale of the machine on January 1, 2020. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit ir Choose from any list or enter any number in the input fields and then continue to the next question. OnJanuary 1, 2017 Rega. Manufacturing purchased a machine for $900,000 .ompany expected the machne to norman useful for ten residual value of 500.000. Regal Manufacturing uses the straight -line method to depreciate its machinery Ragal Manufacturing used the machine for three years and soild it on January 1, 2020, for $250,000 Read the quirements Record the sale of the machine on Jenuary 1,2020(Recond debits fret, then credts Exclule explanations trom any joumal antries) Journal Entry Date Accounts Debit Credit fields and then