Chapter 10 Homework Help Save & E Ches Exercise 10-17 Partial-year depreciation; disposal of plant asset LO P2 Rayya Co, purchases and installs a machine on January 1, 2017 at a total cost of $151.200. Straight line depreciation is taken each year for four years assuming a seven-year life and no salvage value. The machine is disposed of on July 1, 2021, during its fifth year of service Prepare entries to record the partial year's depreciation on July 1, 2021, and to record the disposal under the following separate assumptions: (1) The machine is sold for 564 800 cash (2) An insurance settlement of $51.840 is received due to the machine's total destruction in a fire View transaction ist Journal entry worksheet Record the depreciation expenses of July 1, 2021 N ebbie e 2 of 4 Next > * Type here to search DOLL