Question: Diddle, Inc. sold a machine for $20,000 cash on December 5. The machine originally cost $80,000 and had accumulated depreciation of $70,000 on December 5.

Diddle, Inc. sold a machine for $20,000 cash on December 5. The machine originally cost $80,000 and had accumulated depreciation of $70,000 on December 5. Diddle, Inc, should record a: $20,000 gain on sale. O $10,000 gain on sale. O $60,000) loss on sale. O ($50,000) loss on sale

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