Sale of Plant Asset Lone Pine Company has a machine that originally cost $60,000. Depreciation has been recorded for four years using the straight-line method, with a $5,000 estimated salvage value at the end of an expected ten-year life. After recording depreciation at the end of four years, Lone Pine sells the machine. Prepare the journal entry to record the machine's sale for Round to the nearest dollar $35,000 cash b $38,000 cash $28,000 cash General Journal Date Cash Description Debit Credit 19,000 0. Equipment To record sale of machine b Cash Accumulated Depreciation-Equipment Gain on Sale of Plant Assets Accumulated Depreciation Equipment 22,000 0 60,000 1,000- 38,000- Ov 22.000 Equipment 60.000 To record sale of machine Cash 21000 0~ Accumulated Deprecation Equipme 22.000 Accumulated Depreciation Equipment 10.000 10 Equipment 60.000 to record sale of machine