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Rayya Company purchases a machine for $84,000 on January 1,2021 . Straight-IIne depreclation is taken each year for four years assuming a seven-year Ife and
Rayya Company purchases a machine for $84,000 on January 1,2021 . Straight-IIne depreclation is taken each year for four years assuming a seven-year Ife and no salvage value. The machine is sold on July 1,2025 , durlng its fifth year of service. Prepare entrles to record the partlal year's depreclation on July 1, 2025, and to record the sale under each separate situation. (1) The machine is sold for $36,000 cash. (2) The machine is sold for $28,800 cash. Journal entry worksheet Record the depreciation expense as of July 1, 2025 . Note: Enter debits before credits
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