Question: please answer this question completely and make sure to make all the answer clear. Rayya Co. purchases a machine for $126,000 on January 1, 2019
Rayya Co. purchases a machine for $126,000 on January 1, 2019 Straight-line depreciation is taken each year for four years assuming a eight-year life and no salvage value. The machine is sold on July 1, 2023, during its fifth year of service. Prepare entries to record the partial year's depreciation on July 1, 2023, and to record the sale under each seperate situation. (1) The machine is sold for $63.000 cash (2) The machine is sold for $52,920 cash. View transaction list Journal entry worksheet 2 3 1 Record the depreciation expense as of July 1, 2023. Not Enter debit before credits General Journal Date July 01, 2023 Debit Credit Recordatory Clear entry View general Journal
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