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Rayya Company purchases a machine for $184,800 on January 1, 2021. Straight-line depreciation is taken each year for four years assuming a seven-year life and

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Rayya Company purchases a machine for $184,800 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 fith 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 $79,200 cash. (2) The machine is sold for $63,360 cash. Journal entry worksheet Record the depredation expense as of July 1, 2025. Noth: Enter debits befort oredite. Journal entry worksheet Record the sale of the machinery for $79,200 cash. Note: Enter deblts before credits. Journal entry worksheet Record the machine sold for $63,360 cash. Note: Enter debits before credits

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