Question 7

On January 1, 2018, Dunbar Echo Co. selts a machine for $24.000. The machine was originally purchased on January 1, 2016 for $42.200. The machine was estimated to have a useful life of 5 years and a residual value of $0. Dunbar Echo uses straight-line depreciation In recording this transaction Multiple Choice a loss of $1320 would be recorded. again of $24.000 would be recorded gain of $1,320 would be recorded O O a loss of $18.200 would be recorded