Answer and Explanation:
The Journal entries are shown below:-
1. Cash Dr, $22,000
Accumulated depreciation-machine Dr, $148,800
($201,600 - $23,040 ÷ 6 × 5)
Loss on Sale of Machine Dr, $30,800
To Machine $201,600 ($192,000 + $8,000 + $1,600)
(To record Sale of the machine)
2. Cash Dr, $88,000
Accumulated depreciation-machine $148,800
($201,600 - $23,040 ÷ 6 × 5)
To Gain on Sale of Machine $35,200
To Machine $201,600
(Being Sale of the machine is recorded)
3. Cash Dr, $32,500
Accumulated depreciation-machine Dr, $148,800
Loss on disposal of Machine $20,300
To Machine $201,600
(Being Sale of the machine is recorded)
