Kobe Co. bought a rebounding machine for $100,000 on January 1, 2016. The accumulated

depreciation on the machine was $80,000 when it was sold.

If the machine was sold for $25,000 which of the following would be the correct entry?

		Cash $25,000 Accumulated depreciation 75,000 Equipment $100,000
		Cash $25,000 Accumulated Depreciation 80,000 Equipment $105,000
		Cash $25,000 Accumulated Depreciation 80,000 Gain on Sale $ 5,000 Equipment 100,000
		Cash $25,000 Accumulated Depreciation 80,000 Loss on Sale $ 5,000 Equipment 100,000