SolMfg Company purchased a new machine for $200,000 on March 1, 2020. It is estimated that the machine will have $20,000 residual value at the end of its 5-year useful service life. Please prepare a depreciation schedule which shows the annual depreciation expense on the machine for its 5-year life. < t Instructions (1) Company is using straight line depreciation method; < Year Depreciable amount (remaining) Rate Annual Depreciation expense Accumulated Depreciation Book Value < End of Year 2020 2021 2022 2023 2024 2 2025 (2) Please prepare a journal entry on December 31, 2020 to record 2020 depreciation F (3) The Company sold the machine on June 30,2023 for $85,000 cash. Please prepare journal entries on June 30,2023.