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Columbia Co. purchased a Van for $260,000 in cash on May 1 of Year 1 . The machine has an estimated useful life of 8

Columbia Co. purchased a Van for $260,000 in cash on May 1 of Year 1. The machine has an estimated useful life of 8 years and an estimated salvage value of $20,000. Columbia Co. uses the straight-line method for computing depreciation expense.

Which ONE of the following is included in the journal entry necessary to record the sale of the machine for $150,000 cash at the end of Year 5?

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