Rayya Company purchases a machine for $184,800 on January 1,2021 . Straight-line depreciation is taken...
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Rayya Company purchases a machine for $184,800 on January 1,2021 . Straight-line depreciation is taken each year for four years assuming a seven-year life and no salvage value The machine is sold on Juty 2,2025 , turing its fith year of service Prepare entries to record the partial years depreciation on July 1,2025, and to record the sale under each separate situation. (1) The mochine is sold for $79,200 cash, (2) The machine is sold for $63,360 cash. Journal entry worksheet 23 Recond the depreciation expense as of July 1, 2025: Journal entry worksheet Pecoord the sale of the machistry for 579,200 eath Journal entry worksheet Record the machine sold for $63,360 cash
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