Multiple Choice
If the company sells the machine at the end of 5 years and receives $11,500, the journal entry to record the sale will include which of the following?
A) Debit to Accumulated Depreciation for $138,000.
B) Credit to Machine for $138,000.
C) Debit to Loss on Sale for $500.
D) Credit to Residual Value for $12,000.
Correct Answer:
Verified
Correct Answer:
Verified
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