Sunny. Co. purchased a farming machine for $10,000 in cash on October 1 of Year 1. The machine has an estimated useful life of 8 years and an estimated salvage value of $2,000. Sunny. Co. uses the straight-line method for computing depreciation expense. Which ONE of the following is included in the journal entry necessary to record the sale of the machine for $7,700 cash at the end of Year 3? Note: The sale takes place after the recording of depreciation expense for Year 3 has been completed. ODEBIT to Accumulated Depreciation for $2,200 CREDIT to Loss on Sale of Machine for $50 CREDIT to Accumulated Depreciation for $2,250 O CREDIT to Machine for $7,750 O DEBIT to Loss on Sale of Machine for $700 Credit to Gain on Sale of Machine for $50 O DEBIT to Loss on Sale of Machine for $50 O CREDIT to Gain on Sale of Machine for $700