Show transcribed image text Rayya Co. purchases and installs a machine January 1, 2013, at a total cost of Straight-line depreciation is taken each year for four years seven-year life and no salvage value The machine is disposed of on July l 7, during assuming a its fifth year of service. Prepare entries to record partial of depreciation on July 1, 2017, and to record the disposal under the following separate assumptions machine is sold for exist45,500 cash and (2) Rayya receives an insurance settlement of exist25,000 resulting from the total destruction of the machine in a fire.
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