On December 31, 2020, Sunland Inc. has a machine with a book value of $977,600. The original cost and related accumulated depreciation at this date are as follows. Machine $1,352,000 Less: Accumulated depreciation 374,400 Book value $977,600 Depreciation is computed at $62,400 per year on a straight-line basis. Presented below is a set of independent situations. For each independent situation, indicate the journal entry to be made to record the transaction. Make sure that depreciation entries are made to update the book value of the machine prior to its disposal.