Use the information given to do the journal entries.

Rayya Co. purchases and installs a machine on January 1,2017, at a total cost of $142,800. Straight-line depreciation is taken each year for four years assuming a eight-year life and no salvage value. The machine is disposed of on July 1, 2021, during its fifth year of service. The machine is sold for $71,400 cash. (2) An Insurance settlement of $59,976 Is recelved due to the machine's total Journal entry worksheet for four years assuming a eight-year life and no salvage value. The machine is disposed of on July 1, 2021, during its fifth year of assumptions: (1) The machine is sold for $71,400 cash. (2) An insurance settlement of $59,976 is recelved due to the machine's total Journal entry worksheet Debt Clear entry Rayya Co. purchases and installs a machine on January 1, 2017, at a total cost of $142.800. Straight-line depreclation is taken each year for four years assuming a eight-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 $71,400 cash. (2) An insurance settlement of $59,976 Is recelved due to the machine's total destruction in a fire. Journal entry worksheet Record the insurance settlement received of $59,976 due to the machine's total destruction in a fire. Date ral Journal Debit July 01, 2021 Clear entry