The property, plant, and equipment section of the Jasper Company's December $31,2023,$ balance sheet contained the following:

Property, plant, and equipment:

The land and building were purchased at the beginning of $2019.$ Straight$-$line depreciation is used and a residual value of $$40,000$ for the building is

anticipated.

The equipment is comprised of the following three machines:

The straight$-$line method is used to determine depreciation on the equipment. On March $31,2024,$ Machine $102$ was sold for $$52,500.$ Early in $2024,$ the

useful life of machine $101$ was revised to seven years in total, and the residual value was revised to zero.

Required:

Calculate the accumulated depreciation on the equipment at December $31,2023.$

Prepare the journal entry to record $2024$ depreciation on machine $102$ up to the date of sale.

Calculate the gain or loss on the sale of machine $102.$

Prepare the journal entry for the sale of machine $102.$

Prepare the $2024$ year$-$end journal entries to record depreciation on the building and remaining equipment.

Answer is complete but not entirely correct.

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Prepare the $2024$ year$-$end journal entries to record depreciation on the building and remaining equipment.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.