Current Attempt in Progress On December 31, 2020, Riverbed Inc. has a machine with a book value of $1.278.400. The original cost and related accumulated depreciation at this date are as follows Machine Less: Accumulated depreciation Book value $1,768.000 489.600 $1.278.400 Depreciation is computed at $81,600 per year on a straight line basis. Presented below is a set of independent situations. For each independent situation indicate the journal entry to be made to recor the transaction. Make sure that depreciation entries are made to update the book value of the machine prior to its disposal A fire completely destroys the machine on August 31, 2021. An insurance settlement of $584,800 was received for this casualty. Assume the settlement was received immediately. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit A fire completely destroys the machine on August 31, 2021. An insurance settlement of $584 800 was received for this casualty. Assume the settlement was received immediately. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit ust 31, 2021 Depreciation Expense Accumulated Depreciation Machinery I To record current depreciation ust 31, 2021 Accumulated Depreciation Machinery Cash Lesson Disposalot Machinery Machinery To record loss of the machine R T Y 1 O OT G H On April 1, 2021, Riverbed sold the machine for $1.414.400 to Yoakam Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit April 1, 2021 Depreciation Expense Accumulated Depreciation Machinery To record current depreciation) April 1. 2021 Accumulated Depreciation Machinery Gain on Disposal of Machinery Machinery To record sale of the machine On July 31, 2021, the company donated this machine to the Mountain King City Council. The fair value of the machine at the time of the donation was estimated to be $1.496,000. (Credit account titles are automatically indented when amount is entered Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit July 31, 2021 Depreciation Expense Accumulated Depreciation Machinery (To record current depreciation July 31, 2021 Accumulated Depreciation Machinery Machinery (To record donation of the machine)