Anderson Corp. acquired a machine on January 1, 2020. The following information relates to the purchase: Cost 20,000 Useful Life 5 years Residual Value 2,000 Anderson uses the straight-line depreciation method. Anderson sold the machine on July 1, 2021 for $12,000. The journal entry to record the sale would include a: Credit to Gain on Sale of Machinery, $2,600 O Credit to Cash, $12,000 O debit to Accumulated Depreciation, $5,400 O Credit to Machine, $14,600 Which of the following is not true about Managerial Accounting? O Has flexible reporting formats O Focuses on planning for the future Produces information for investors and creditors O Produces information for internal decision making How many categories are there in the value chain? O Seven O Six Three O Five