Business, 10.09.2020 01:01, santiago172005

A machine purchased on 1/1/21 for $24,000 and on which $14,400 of Accumulated Depreciation has been recorded through 12/31/23 was sold on 4/1/24. Straight-line depreciation was used. Salvage Value was zero. Asset life was 5 years. If the machine was sold for $16,000 cash, the journal entry to record this event would include a gain of:

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A machine purchased on 1/1/21 for $24,000 and on which $14,400 of Accumulated Depreciation has been...