View Pollicies Current Attempt in Progress Vaughin Compary purchased equipment on June 1,2022 for $1585000, At the time of acquisition, the machine was estimated to have a useful life of five years arid an estimated salvage value of $325000. The company has depreciated the asset using the straight-line method. in May 2025, the company decided to cease production of one of its product lines and to dispose of the equipment. On June 1. 2025. the machine was sold for $841000. The journal entry to record the salo of the machine willinclude acredit to Gainon Disposal for $12000 adebit to toss on Disposit for 5110000 2creoit to Accurmatated Depreciation - Equipmentior $634000 acredit to Equipment for $829000