Peterson Company purchased machinery for $800,000 on January 1, 2014 Straight-line depreciation has been recorded based on a $50,000 salvage value and a 5-year useful life. The machinery was sold on May 1, 2018 at a gain of $15,000. What are the journal entries necessary to record this sale? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) MashupsT l@.E HTHL CSS Accumulated Depreciation Accumulated Depreciation Cash Loss on Disposal 650000 15000 135000 Equiptment 800000 Path: table tbody tr td Words: 19