Kingston company purchased a machine on January 1, 2015 for $24,000. there is no salvage value and the machine is expected to last ten years. management typically records depreciation at year end (December 31). on march 1, 2016 Kingston company sells the machine for $5000. what is the appropriate journal entry to record the sale of the machine? multiple choice:

- Dr. Accumulated depreciation $2,800. Dr. cash $5,000. Dr. Loss on Disposal $16,200. Cr. Machine $24,000

- None of the other alternatives are correct

- Dr. Accumulated depreciation $4,800. Dr. Cash $5,000. Dr. Loss on Disposal $14,200 Cr. machine $24,000

- Dr. Accumulated depreciation $2,400. Dr. Cash $5,000. Dr. Loss on Disposal $16,600 Cr. machine $24,000

- Dr. Accumulated depreciation $2,800. Dr. Machine $24,000. Cr. Loss on Disposal $26,800