Tipperary purchased a Machine on January 1 2009. The Machine was purchased on credit from Liam for $300,000 + $30,000 GST. The Machine has an expected life of 4 years and an expected residual of $60,000 + GST $6,000. Calculate depreciation for the life of the Machine if the business used the straight line method of depreciation Assuming the business used the straight line method to depreciate the Machine, complete the following accounts for the years ended 30 June, 2009 and 201 Machine Account Accumulated Depreciation - Machine Depreciation Expense If the Machine was sold for cash on July 1, 2010 for $127,600 including GST of $11,600, show all necessary entries, in general journal format, to record the sale and any gain or loss on sale