Pollyanna Publishing, a textbook publishing firm, purchased a new machine for $80,000. This machine is expected to operate for 10 years, after which it will be sold for salvage value (estimated to be $8,000). C. If the machine has been depreciated using the double-declining balance method and had sold after 3 years, compute the gain or loss if its sales price is $43,000. D. Prepare the journal entry for the sale of the machine in C