On Jan 1, Year 1, Double Boe Inc. purchased a new machine. The cost of the machine was $140,000 with an estimated 5-year life and $20,000 salvage value at the end of its useful life. Double Boe Inc. uses a calendar year and the straight-line method of depreciation At the end of Year 4, after depreciating this machine. Double Boe ralized it was obsolete. There was no market to sell it in and they ended up throwing it away. The journal entry to remove this machine off the books includes: 1. A debit to Accumulated Depreciation for $96,000 2. Acredit to Machine for $140,000 3. A debit to Loss on Sale of Machinery for $44,000 4. A debit to Loss on Sale of Machinery for $28.000 Only Statement 2 Statement. 82 and 3 Both Statement 2 and 14 Only Statement 4 Statement #1, # 24 On Sat DOS MacBook Air 2 10 3 6 7 8 9 W 0 - - E E R Y 0 S F G H