Rayya Co. purchases and installs a machine on January 1, 2018, at a total cost of $84,000. Straight-line depreciation is taken each year for four years assuming a eight-year life and no salvage value. The machine is disposed of on July 1, 2022, during its fifth year of service. Prepare entries to record the partial year's depreciation on July 1, 2022, and to record the disposal under the following separate assumptions: (1) The machine is sold for $42.000 cash. (2) An insurance settlement of $35.280 is received due to the machine's total destruction in a fire. Answer is not complete. Debit Credit No 1 Date July 01, 2022 General Journal Depreciation expense Accumulated depreciation Machinery July 01, 2022 42,000 42.000 Cash Accumulated depreciation-Machinery Machinery Gain on sale of machinery 0 000 July 01, 2022 Cash Accumulated depreciation Machinery Loss on sale of machinery Machinery