The WHOSEY Company purchased a machine on $1/1/07$ for $$180,000.$ The economic life of theAsset is $5$ years. The salvage value is $$50,000.$ The economic life in terms of output is $65,000$ units. Inpears $2007,2008,2009,2010,2011,$ production was $15,000,30,000,25,000,5,000$ and $3,000.$PARTIStraight$-$LineDouble$-$Declining BalanceUnits of ProductionYear $12007$DepreciationAccumulating DepreciationBook ValueYear $22008$Year $5201$lPART $2$AT THE END of fEARMACHINAfor$$95000"(2008),$ THE CompAny SALo.THE.guide the generel journal entry to record the sale.