Disposal of a Tangible Capital Asset} On August 30, Lhasa Manufacturing Company decided to sell one of

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Disposal of a Tangible Capital Asset}

On August 30, Lhasa Manufacturing Company decided to sell one of its fabricating machines, which was 15 years old, for $\$ 6,000$. The machine, which originally cost $\$ 105,000$, had accumulated depreciation of $\$ 102,500$.

\section*{Required:}

Prepare the journal entry to record the disposal of the machine.

\section*{Cornerstone Exercise

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