Bonita Industries traded in a manual pressing machine for an automated pressing machine and gave $44000 cash. The old machine cost $473000 and had a net book value of $338000. The old machine had a fair value of $290000.

Which of the following is the correct journal entry to record the exchange assuming commercial substance?

Equipment334000

Equipment 290000

Cash 44000

Equipment334000

Loss on Disposal48000

Accumulated Depreciation135000

Equipment 473000

Cash 44000

Cash44000

Equipment290000

Loss on Disposal48000

Accumulated Depreciation135000

Equipment 517000

Equipment652000

Accumulated Depreciation 135000

Equipment 473000

Cash 44000