Vaughn Company purchased machinery for $608400 on January 2, 2023. Straight-line depreciation has been recorded based on a $30600 salvage value and a 3-year useful life. The machinery was sold on March 2, 2025 at a gain of $11900. The journal entry to record the sale of the machinery will include O a credit to Gain on Disposal for $18700. a debit to Accumulated Depreciation - Equipment for $385200. O a debit to Cash for $203000. O a credit to Equipment for $191100.

Vaughn Company purchased machinery for $608400 on January 2,2023 . Straight-line depreciation has been recorded based on a $30600 salvage value and a 3-year useful life. The machinery was sold on March 2, 2025 at a gain of $11900. The journal entry to record the sale of the machinery will include a credit to Gain on Disposal for $18700. a debit to Accumulated Depreciation - Equipment for $385200. a debit to Cash for $203000. a credit to Equipment for $191100