Pacifica Manufacturing retired a computerized metal stamping machine on December 31, 2011. Pacifica sold the machine to another company and did not replace it. The following data are available for the machine: Cost (installed), 1/1/2006 $920,000 Residual value estimated on 1/1/2006 160.000 Estimate life as of 1/1/2006 8 years The machine was sold for $194,000 cash. Pacifica uses the straight-l ine method of depreciation. Hide 1. Prepare the journal entry to record depreciation expense for 2011. 95000 2011 Dec. 31 Depreciation Expense Accumulated Depreciati 95000 Record depreciation expense Hide Feedback Correct Check My Work Feedback (Cost-salvage value)/years depreciation expense. Set-up T accounts. 2. Compute accumulated depreciation at December 31, 2011 475000 Hide 3. Prepare the journal entry to record the sale of the machine. If no entry required, leave the answer boxes blank. 2011 Dec. 31 Cash 194000 Accumulated Depreciation Loss on Disposal Machine Record sale of machine