On June 1, 2025, ABC Company purchased land, some machinery, and a truck for $245,000. The...

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On June 1, 2025, ABC Company purchased land, some machinery, and a truck for $245,000. The information below relates to the property purchased: Land Machinery Truck Current Market Value $83,200 $98,800 $78,000 Before the property could be used, ABC Company had to spend $8,300 to put the machinery in working condition. Information related to depreciation of the machinery and truck is given below: Residual value Life Machinery $6,900 Depreciation method 9 years straight-line Truck ? 80,000 miles units of production The machinery was sold on October 1, 2030 for $20,000 cash. Calculate the amount of the loss recorded on the sale of the machinery. Do not enter your answer with a minus sign in front of your number. On June 1, 2025, ABC Company purchased land, some machinery, and a truck for $245,000. The information below relates to the property purchased: Land Machinery Truck Current Market Value $83,200 $98,800 $78,000 Before the property could be used, ABC Company had to spend $8,300 to put the machinery in working condition. Information related to depreciation of the machinery and truck is given below: Residual value Life Machinery $6,900 Depreciation method 9 years straight-line Truck ? 80,000 miles units of production The machinery was sold on October 1, 2030 for $20,000 cash. Calculate the amount of the loss recorded on the sale of the machinery. Do not enter your answer with a minus sign in front of your number.