Rayya Company purchases a machine for $176,400 on January 1,2021 . 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 , 2025, during its fifth year of service. Prepare entries to record the partial year's depreciation on July 1,2025 , and to record the sale under each separate situation. (1) The machine is sold for $75,600 cash. (2) The machine is sold for $60,480 cash