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On January 1 2020, the Accumulated Depreciation-Machinery account of Klopp, Inc. showed a balance of $703,000. At the end of 2020, after the adjusting entries
On January 1 2020, the Accumulated Depreciation-Machinery account of Klopp, Inc. showed a balance of $703,000. At the end of 2020, after the adjusting entries were posted, it had a balance of $693,000 Depreciation expense for 2020 was $72,000. During 2020, one of the machines was sold for $53.000 cash. This resulted in a gain of $4,000. Assuming that no other assets were disposed of during the year, what is the original cost of the machine sold in 2020? Multiple Choice O O $191,000 O $135,000 O $141000 O $127.000
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