Sale of Plant Asset Raine Company has a machine that originally cost $90,000. Depreciation has been recorded for five years using the straight-line method, with a $18,000 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. $65,000 cash b. $50,000 cash c. $44,000 cash General Journal Description Date Debit Credit Accumulated Depreciation - Equipment Gain on Sale of Plant Assets To record sale of machine. Cash b. To record sale of machine. Cash Accumulated Depreciation - Equipment To record sale of machine. Date General Journal Description Debit Cre a. Accumulated Depreciation - Equipment Cash Equipment Gain on Sale of Plant Assets Loss on Sale of Plant Assets Net Loss b