Chapter 10 Problem Set B Problem 10-4 Part 1 McKean Company purchased a machine on January 1, 2016, for $85,000. The machine was used during 2016, 2017 and 2018 before it was sold on January 1, 2019. At that time, it had accumulated depreciation of $52,500. The machine was sold for $35,000. Prepare the journal entry to record the sale. I Part 2 Assume instead that McKean Company sold the machine for $25,000. Prepare the journal entry to record the sale