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Candy Craze purchased and installed a machine on January 1, 2020, at a total cost of $308,700. Straight-line depreciation was taken each year for four years, based on the assumption of a seven-year life and no residual value. The machine was disposed of on July 1, 2024, during its fifth year of service. Candy Craze's year-end is December 31. Required: Present the entries to record the partial year's depreciation on July 1, 2024. Record the disposal under each of the following unrelated assumptions: a. The machine was sold for $129,000 cash. b. Candy Craze received an insurance settlement of $103,000 resulting from the total destruction of the machine in a fire