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 (Round to the nearest dollar):

a. $ 37000 cash

b. $ 36.800 cash

c. $S28, 000 cash

Answer rating: 100% (QA)

Cost of Machine 58000 Salvage value 5000 Life 10 years Ann... View the full answer