Rayya Co, purchases a machine for $193,200 on January 1, 2020. Straight-line depreciation is taken each year for four years assuming a seven year life and no salvage value. The machine is sold on July 1, 2024, during its fifth year of service. Prepare entries to record the partial year's depreciation on July 1, 2024, and to record the sale under each separate situation (1) The machine is sold for $82,800 cash. (2) The machine is sold for $66,240 cash View transaction list View journal entry worksheet No Date General Journal + July 01, 2024 Depreciation expense Accumulated depreciation-Machinery Debit Credit 2 July 01, 2024 Cash Machinery Gain on sale of machinery 3 3 July 012024 Cash Loss on sale of machine Machinery