account of a firm showed a balance on December 31, 2013 of $9, 500: the reserve for depreciation, furniture, and fixtures showed a balance of $6, 540. Depreciation has been taken at 10% per annum, straight-line method. On April 1, 2013, a new machine was purchased for $500, for which an old machine, originally purchased for $300 on October 1, 2010, was traded in with an allowance of $50, and the balance of $450 was paid in cash. After making adjusting entries for 2013, the balance in the reserve account should be A. $7, 505 B. $6, 465 $7, 430 D. $7, 415