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+370-633000 GST exclustre) The machine had a useful life of years and a residual value On & January 2015, Gormly Ltd purchard a machine for $330,000 (netofast/ $30,000. Straught-line depreciation is used the machine is to be disposed of on 1 July 2015. Gormly Ltd balances its accounts on 31 Dec. the burrey is registed porast Required: Cal Prepare the journal entry to record depreciation before the disposal on 1 Iuly 2012 (6) The machine was destroyed fore and acheque leash) of $20,000 was received from the insuarance company. Prepare journal entriesto record the disposal of the machine on July 2015 Narratung eady journal is required