Q7. West Inc. bought Machine No. 2 for $16,000 on Jan 1, 2016. It had a 4-year life with no residual value and was depredated using straight-line. West revalues its machines at the end of each financial year. The appraised fair values of Machine No. 2 are shown below. West disposed of valueless Machine No. 2 on Jan 1, 2020. No credit for answers submitted without plausible calculations Date Dec 31, 2016 Dec 31, 2017 Dec 31, 2018 Dec 31, 2019 Fair Value $ 11,100 8,500 4,250 0 Provide journal entries for each of following dates. [1% marks for each part] 97a Dec 31, 2016 Journal entries Show cokulations Dr. Cr Q.7 Dec 31, 2017 Show colculations Journal entries Dr. Dec 31, 2018 Show cokulations Journal entries Dr. 070 HT1100 Show.colulation! De