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(b Stevenson Company purchased equipment for $250,000 on January 1, 2010. The estimated salvage value is $50,000, and the estimated useful life is 5 years.

(b Stevenson Company purchased equipment for $250,000 on January 1, 2010. The estimated salvage value is $50,000, and the estimated useful life is 5 years. The straight-line method is used for depreciation. On July 1, 2013 Stevenson sold the equipment for $100,000. The journal entry to record the sale of the equipment will include. (5 points)

A.

A debit to cash of $100,000, a credit to equipment of $250,000
B.

A credit to accumulated depreciation of $140,000
C.

A debit to cash of 250,000, a credit to equipment of $100,000
D.

A debit to equipment of 250,000, a credit to cash of $100,000
E.

None of the above

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