On January 1, 2021, Martinez Company purchased on credit machinery costing $150,000 and incurred $5,100 in installation costs. The machinery has an estimated useful life of 15 years and a residual value of $10,140. The company uses the straight-line method of depreciation. At the end of 2022, Martinez recorded depreciation and assessed the asset, determining a recoverable amount of $124,800. Martinez sold the equipment to Voilex Corporation on June 30, 2023, for $122,800. Prepare the necessary entries assuming Martinez has a December 31 year-end. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Round answers to O decimal places, e.g. 5,275. Record journal entries in the order presented in the problem.) Date Jan. 1.2021 Account Titles and Explanation Machinery Debit Credit Accounts Payable Dec. 31.2021 : Depreciation Expense Dec. 31, 2022 : Accumulated Depreciation Machinery (To record depreciation expense) Depreciation Expense Accumulated Depreciation - Machinery