I want to know the answer for this.. Application Problem 8-12A a-b, cl-c2 (Part Level Submission) On March 1, 2019, Zephur Winds Ltd. purchased a machine for $63,000 by paying $21,000 down and issuing a note for the balance. The machine had an estimated useful life of nine years and an estimated residual value of $6,300. Zephur Winds uses the straight-line method of depreciation and has a December 31 year end. On October 30, 2021, the machine was sold for $59,000. (b) Record the depreciation expense for 2019 and 2020, prepare the journal entry to update the depreciation and record the sale of the equipment on October 30, 2021. (Credit account titles are automatically indented when the amour is entered. Do not indent manually. If no entry is required, select “No Entry” for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2019 depreciation expense 5250 Accumulated depreciation 5250 Dec. 31, 2020 cash 59000 16800 Oct. 30, 2021 Depreciation Expense 5250 Accumulated Depreciation – Machinery 5250 (To record depreciation expense) Oct. 30, 2021 Cash 59000 Accumulated Depreciation – Machinery 16800 gain on disposal 2625 63000 Machinery (To record sale of machine)

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