Business, 06.10.2019 10:30 thompsonmark0616

Amachine costing $75,000 is purchased on september 1, year 1. the machine is estimated to have a salvage value of $10,000 and an estimated useful life of 4 years. double-declining-balance depreciation is used. if the machine is sold on december 31, year 3 for $13,000, the journal entry to record the sale will include: a)a credit to gain on sale for $8,000. b)a debit to loss on sale for $2,625. c)a credit to accumulated depreciation for $59,375. d)a debit to loss on sale for $3,042. e)a credit to gain on sale for $4,979.

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Amachine costing $75,000 is purchased on september 1, year 1. the machine is estimated to have a sal...

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