Please answer the following question and show your work

On December 31, 2022, Skysong Inc. owns a machine with a carrying amount of $734,000. The original cost and accumulated depreciation for the machine on this date are as follows: Machine $1,310,000 Accumulated depreciation 576,000 $734,000 Depreciation is calculated at $96,000 per year on a straight-line basis. A set of independent situations follows. For each situation, prepare the journal entry for Skysong to record the transaction. Ensure that depreciation entries are recorded to update the machine's carrying amount before its disposal. Assume that Skysong uses IFRS for financial statement purposes. On April 1, 2023, Skysong sold the machine for $1,045,000 to Sheridan Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit sr 1, Depreciation Expense Accumulated Depreciation - Machinery | | (To record depreciation on machinery) April 1, 2023 Accumulated Depreciation - Machinery Cash Gain on Disposal of Machinery Machinery (To record disposal of machinery)