1. Assume that a machine with a cost of $2,000 has accumulated depreciation of $1,000. Assume it is sold for $1.500. Which of the following would be part of the journal entry fo record this sale? a. debit Accumulated Depreciation for $1,000 b. debit the Machine account for $2,000 c. debit Loss on Disposal for $500 d. debit Gain on Disposal for $500 2. Assume that a machine with a cost of $3,000 has accumulated depreciation of $1,500. It was sold for 51,800 . Which of the following would be part of the journal entry to record this sale? a. credit Accumulated Depreciation for $1,500 b. credit the Machine account for $1,500 c. credit Loss on Disposal for $300 d. credit Gain on Disposal for $300 3. Assume an older truck with a cost of $18,000 has accumulated depreciation of $10,000. The older truck and $21,000 cash are traded for new equipment salued at $30,000. Which of the following would be part of the journal entry to record this exchange? a. debit Gain on Disposal for $1,000 b. credit Accumulated Depreciation. Iruck for $10,000 c. credit Gain on Disposal for $2,000 d. debit Equipment for $30,000 4. Jill Hamlin borrowed $10,000 from the bank on Augut 31 , issuing the bank a 12% note due in 60 days. The entry to record acerued interest on the note on September 30 ( 30 days after the note was made) sould include (use 365 -day year): a. debit Interest Expense for $19726 b. debit Interest Payable for $19726 c. debit Interest Expense for $98.63 c. debit Interest Payable for $98.63