Current Attempt in Progress Sheridan Company purchased machinery for $626400 on January 2, 2023. Straight-line depreciation has been recorded based on a $36000 salvage value and a 3-year useful life. The machinery was sold on March 2.2025 at a gain of $12500. The journal entry to record the sale of the machinery will include O a credit to Gain on Disposal for $23500 O a debit to Accumulated Depreciation-Equipment for $393600 O a credit to Equipment for $200000 O a debit to Cash for $212500.