Sale of Plant Asset Raine Company has a machine that originally cost $60,000. 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. $37,000 cash b. $30,000 cash $28,000 cash General Journal Description Date Debit Credit a. 0 Accumulated Depreciation - Equipment oooo OOO Gain on Sale of Plant Assets To record sale of machine. Cash b. O O O O O O To record sale of machine. Cash C. 0 0 oooo Accumulated Depreciation - Equipment 0 0 To record sale of machine