Question 16 (1.66 points) On July 1, 2014, Fleming Company sells machinery for $120.000. The machinery originally cost $300,000, had an estimated 5-year life and an expected salvage value of $50,000. The Accumulated Depreciation account had a balance of $175,000 on January 1.2014, using the straight-line method. The gain or loss on disposal is 1) $20,000 gain. 2) $5,000 loss 3) $10.000 loss ) $5,000 gain Save Question 17 (1.66 points) st $144 000