Business, 07.04.2020 04:52, NathanaelLopez

Raine Company has a machine that originally cost $58,000. Depreciation has been recorded for four years using the straight-line method, with a $5,000 estimated salvage value at the end of an expected ten-year life. After recording depreciation at the end of four years, Raine sells the machine. Prepare the journal entry to record the machine's sale for:

a. $37,000 cash
b. $36,800 cash
c. $28,000 cash

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Raine Company has a machine that originally cost $58,000. Depreciation has been recorded for four ye...