Sale of Plant AssetLone 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 machines sale for $($Round to the nearest dollar$)$:a$.$$$39,000$cashb.$$38,000$cashc.$$28,000$cash General JournalDateDescriptionDebitCredita.Accumulated Depreciation $-$ EquipmentGain on Sale of Plant AssetsTo record sale of machine.b$.$CashCorrectThe correct answer is: EquipmentMark $1\mathrm{.}00$ out of $1\mathrm{.}00$To record sale of machine.c$.$CashAccumulated Depreciation $-$ EquipmentTo record sale of machine.