Rayya Company purchases a machine for $151,200 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 July 1, 2025, during its fifth year of service. Prepare entries to record the partial year's depreciation on July 1, 2025, and to record the sale under each separate situation. (1) The machine is sold for $64,800 cash. (2) The machine is sold for $51,840 cash. View transaction list Journal entry worksheet 3 <> Record the sale of the machinery for $64,800 cash. Note: Enter debits before credits. Date General Journal Debit Credit July 01, 2025 Cash 64,800 Accumulated depreciation-Machinery 86,400 Gain on sale of machinery 10,800 Depreciation expense-Machinery 151,200

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.