When a company exchanges machinery and receives a trade-in allowance less than the book value, this transaction would be recorded with the following entry: a. debit Cash and Machinery; credit Accumulated Depreciation b. debit Cash and Machinery; credit Accumulated Depreciation and Machinery c. debit Machinery and Accumulated Depreciation; credit Machinery and Cash d. debit Machinery, Accumulated Depreciation, and Loss on Disposal; credit Machinery and cash