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Rayya Co. purchases a machine for $201,600 on January 1, 2019. Straight-line depreciation is taken each year for four years assuming a eight-year life and

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Rayya Co. purchases a machine for $201,600 on January 1, 2019. Straight-line depreciation is taken each year for four years assuming a eight-year life and no salvage value. The machine is sold on July 1, 2023, during its fifth year of service. Prepare entries to record the partial year's depreciation on July 1, 2023, and to record the sale under each seperate situation (1) The machine is sold for $100,800 cash (2) The machine is sold for $84,672 cash. View transaction list Journal entry worksheet 2 3 Record the depreciation expense as of July 1, 2023 Note: Inter debits before credits General Journal Date July 01, 2023 Debi Credit Record entry Clear entry View general journal Journal entry worksheet

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