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Raine Company has a machine that originally cost 560,000. Depreciation has been recorded for five years using the straight line method, with a $6,000 estimated
Raine Company has a machine that originally cost 560,000. Depreciation has been recorded for five years using the straight line method, with a $6,000 estimated salvage value at the end of an expected nine-year life. After recording depreciation at the end of five years, Raine sells the machine. Prepare the journal entry to record the machine's sale for (Round to the nearest dollar): a 537,000 cash $30.000 cash 52.000 cash
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