Take me to the text On July 1, 2010, Pop Pop's Soda purchased a new bottle-sealing machine for $130,800. The machine had an estimated useful life of 10 years and is expected to have no residual value. Assume that the company has adopted a partial-year depreciation policy, where depreciation is taken on a monthly basis The company uses straight line depreciation. The fiscal year end for Pop-Pop's Soda is December 31. on November 1, 2018. Pop-Pop's Soda trades this machine for a new machine. The price tag on the new machinery is $140,800. In return for the old machine that Pop-Pop's Soda is giving up, the supplier of the new machine agrees to take $40,800 off the price of the new machine even though the fair value of the old machine on the day of the trade is only $24.800 Required a) Prepare the depreciation table over the life of the old machine. Do not enter dollar signs or commas in the input boxes. Round all dollarligute, answers to the nearest whole number Year Cost of Long-Term Asset Depreciation Expense Accumulated Depreciation Net Book Value $130,800 $ 6540 $ 124260 $130,800 $ 13080 2010 $ 6540 > 2011 S 19620 $ 111180 2012 $130,800 13080 $ 32700 S198100 2013 $130,800 $ 13080 > $ 45780 S 85020 2014 $130,800 13080 $ 58860 > 5 71940 2015 $130,800 $13080 571940 58860 > > 2016 $130,800 $ 13080 C $85020 $145780 2017 $130,000 $13080 $ 98100 > $32700 2018 $130,800 $ 10900 109000 $ 21800 b) Write the journal entry to record the machine exchange. Assume the company immediately paid for the new machine. Enter all debit accounts in alphabetical order. Enter all credit accounts in alphabetical order Date Account Title and Explanation Debit Credit Nov 1 Accumulated Depreciation 109000 Machine (New) 24800 X Cash 100000 Gain on Exchange of Asset 24800 X Machine (Old) 24800 X Record the exchange of bottle-seating machine