XYZ Company sold the following two machines in 2019: Machine A Machine B $60,000 5 years Cost Purchase Date Useful Life Salvage Value Depreciation Method Date Sold Sales Price $82,000 April 1, 2014 6 years $4,000 Straight-line July 1, 2019 $20,000 January 1, 2017 $2,000 Double-declining-balance August 1, 2019 $12,000 1. Determine the Book Value of Machine A as of the sale date: A. $ 9,750 B. $10,500 C. $10,250 D. $20,250 E. $13,750 2. The journal entry to record the gain or loss on the sale of Machine B would include a A. Credit to gain for $1,040 B. Debit to loss for $4,560 C. Debit to loss for $960 D. Debit to loss for $2,528 E. Credit to gain for $6,008