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Pecos Yo Company purchased a machine for $80,000 in cash on September 1, 20X1. The machine has an estimated useful life of 9 years and

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Pecos Yo Company purchased a machine for $80,000 in cash on September 1, 20X1. The machine has an estimated useful life of 9 years and an estimated salvage value of $11,000. Pecos 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 $93,000 cash at the end of 20x4? Note: The sale takes place after the recording of depreciation expense for 20x4 has been completed. O A CREDIT to Gain on Sale of Machine for $38.556 O A DEBIT to Gain on Sale of Machine for $43,667 O A CREDIT to Loss on Sale of Machine for $5,111 A DEBIT to Gain on Sale of Machine for $38.556

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