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Amachine originally purchased for 25,000 on January 1 with a 20 year life and 5,000 residual value was sold at the end of year 13.
Amachine originally purchased for 25,000 on January 1 with a 20 year life and 5,000 residual value was sold at the end of year 13. The sale price for the machine was $10,000 cash. Which of the following journal entries would be a part of the sale of the machine? O Debit Loss for $2,000 O Credit Loss for 2,000 O Debit Gain for 15,000 Credit accumulated depreciation for $13,000 Credit machine for 12,000
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