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Peckos Yo Company purchased a machine for $164,000 in cash on July 31, 20X1. The machine has an estimated useful le of years and an

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Peckos Yo Company purchased a machine for $164,000 in cash on July 31, 20X1. The machine has an estimated useful le of years and an estimated talage value of 10.000 Peckos Yo Company uses the straight-line method for computing depreciation expense. Which ONE of the following is included in the journal entry necessary to record the sale of the machine of $50.000 cash at the end of 2034 Note: The sale takes place after the recording of depreciation expense for 20X4 has been completed O ACREDIT to Loss on Sale of Machine for $48.229 A DEBIT to Lesson Sale of Machine for $48,229 O A CREDIT to Gain on Sale of Machine for $37.000 O A DEBIT to Loss on Sale of Machine for $37.000

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