View pre Rayya Co. purchases andinstalls a machine on January 1, 2017, at a total cost of $159,600. Straight lIne depreciation is taken each year for four years assuming a eight-year life and no salvage value. The machine is disposed of on July 1,2021, during its fith year of Prepare entries to record the partial year's on July 1, 2021, and to record the disposal under the assumptions: (1 The machine is sold for $79.800 cash. (2) An insurance settlement of $67032 is receved due to the machine's destruction in a fire. Book Hint Journal entry worksheet 2 Record the sale of the machinery for $79,800 cash. Note: Enter debits before credits KPrey 3 of Next