Multiple Choice
On January 1,2018,Dunbar Echo Co.sells a machine for $46,000.The machine was originally purchased on January 1,2016 for $80,000.The machine was estimated to have a useful life of 5 years and a residual value of $0.Dunbar Echo uses straight-line depreciation.In recording this transaction:
A) a loss of $2,000 would be recorded.
B) a gain of $2,000 would be recorded.
C) a loss of $34,000 would be recorded.
D) a gain of $46,000 would be recorded.
Correct Answer:
Verified
Correct Answer:
Verified
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