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LuMen Company sold an old machine that had cost $5,000 for $6,000 cash. Which is correct below? a. Increase cash by 6,000, Decrease Machine by

LuMen Company sold an old machine that had cost $5,000 for $6,000 cash. Which is correct below? a. Increase cash by 6,000, Decrease Machine by 5,000 and increase Retained Earning $1,000 b. Increase cash by 5,000, Decrease Machine by 6,000 C. Increase cash by 6,000, Decrease Machine by 6,000 and decrease Retained Earning $1,000 Decrease cash by 5,000, Increase Machine by 6,000, decreases Retained Earning $1,000

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