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Vita Watet purchased a used machine for $122.900 on January 2.2023. It was repaired the next day at a cost of $10.500 and installed on
Vita Watet purchased a used machine for $122.900 on January 2.2023. It was repaired the next day at a cost of $10.500 and installed on a new plattorm that cost $1,800. The company predicted that the machine would be used for six years and would then have a S18320 residual value. Depreciation was to be charged on a straight-ine basis to the nearest whole month. A full year's depreciation was recorded on December 31, 2023. On September 30, 2028. it was retired. Required: 1. Prepare journal entries to record the purchase of the machine, the cost of repairing it, and the Installation. Assume that cash was paid. Journal entry worksheet 3 2. Prepare entries to record depredation on the machine on December 31 of its first year and on September 30 in the year of its disposal. (Round intermediote colculations to the neorest whole dollor.) Journal entry worksheet a. II wav viles fot 300+200 Journal entry worksheet llemed the cale of mochilie for $20,000 b. It was sold for $28000 Journal entry worksheet Record the sale of machine for $28,000 c. It was destroyed in a fire and the linsurance company pa d525,000 in ful setiberent of the loss clim Journal entry worksheet Record the coposal of machise on full sertiement by insarance compesth
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