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Refer to Table 10-8. What is the journal entry to record the sale of the machine at the end of 2014 for $26,500 if the company uses straight-line amortization?
A)
Cash   26,500   
Accumulated amortization, machine   6,000   
Gain on sale of machine   7,500   
          Machine      40,000

B)
Cash   26,500   
Accumulated amortization, machine   6,000   
Loss on sale of machine   7,500   
          Machine      40,000

C)
Cash   26,500   
Loss on sale of machine   1,500   
          Machine      28,000

D)
Cash   26,500   
Accumulated amortization, machine   12,000   
Loss on sale of machine   1,500   
          Machine      40,000
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Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
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raovatallpyraovatallpy
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