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6. (10 points) A company purchased and installed a machine on January 1 at a total cost of $975,000. Straight-line depreciation was calculated based on the assumption of ten-year life and a $90,000 salvage value. The company uses the calendar year. Prepare the general journal entry to record the disposal of the machine when it was sold for $525,500 cash on March 31 of Year 6. You may not need all the lines below. Hint: Don't forget the depreciation for the first five years. Answer here Date Account Titles Debit Credit Use this information for the next two questions: Your Corporation, a calendar-year company, acquired a new machine on 1/1/20. The cost of the machine is $970,000, and the machine has an estimated useful life of 10 years or 950,000 units of product). The machine has an expected salvage value of $50,000. 7. (4 points) Calculate depreciation expense, using double-declining balance method for Year 2. Accumulated depreciation at the beginning of the year was $194.000. 8. (4 points) Calculate depreciation expense, using units of production for Year 1. The output for year one was 175,000 units and the output for year two was 195,000 units