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Question
Martinez owns machinery that cost $87,000 with accumulated depreciation of $40,000. The company sells the machinery for cash of $42,000. The journal entry to record the sale would include:A.A credit to Accumulated Depreciation of $40,000
B.A credit to Gain on Sale of $2,000.
C.A credit to Machinery of $47,000.
D.A debit to Cash of $42,000.
E.A debit to Accumulated Depreciation of $47,000.
Answer
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