Yellow School Bus Company had machinery that had originally cost $328,000. The machinery was three years old and had been depreciated using the double-declining-balance method, over a five-year useful life with a residual value of $24,000. Answer each of the following independent questions:

A. If the company sold the machinery for $140,000, prepare a journal entry to record the sale. B. If the company sold the machinery for $64,000, prepare a journal entry to record the sale.