On January 2, 2015, Athol Company bought a machine for use in operations. The machine has an estimated useful life of eight years and an estimated residual value of $1,500. The company provided the following information:
a.	Invoice price of the machine, $69,600.
b.	Freight paid by the vendor per sales agreement, $890.
c.	Installation costs, $1,900 cash.
d.	Cost of cleaning up the supplies, boxes, and other garbage that remained after the installation of the machine, $145 cash.
e.	Payment of the machine's price was made as follows:
	January 2:
	Issued 1,200 common shares of Athol Company at $4 per share.
	Signed a $48,000 note payable due April 16, 2015, plus 12 percent interest.
	Balance of the invoice price to be paid in cash. The invoice allows for a 3 percent cash discount if the cash payment is made by January 11.
	January 15: Paid the balance of the invoice price in cash.
	April 16: Paid the note payable and interest in cash.
f.	On June 30, 2017, the company completed the replacement of a major part of the machine that cost $12,760. This expenditure is expected to reduce the machines operating costs, increase its estimated useful life by two years, and decrease its estimated residual value to $1,000.
g.	Assume that on October 1, 2022, the company decided to replace the machine with a newer, more efficient model. It then sold the machine to Sako Ltd. on that date for $23,800 cash

* the answers that are on CHEGG already are wrong and I only need the April 16 journal entry, 2017 depreciation expense, and the recording sale of machinery at a gain.