On January 1, 2010, Montana Co B) $\begin{array}{l}\text { Cash }&5,000 \\\text { Machines }&&5,000\end{array}$

On January 1, 2010, Montana Co.purchased five machines at a price of $10, 000 per machine.Because the estimated life was five years and no salvage value was expected, a group depreciation rate of 20% was used.On January 1, 2012, one of the machines was sold for $5, 000.The correct entry to record the sale of the machine is

A)
$\begin{array} { l c } \text { Cash } & 5,000 \\\text { Loss on Sale of Machine } & 1,000 \\\text { Accumulated Depreciation } & 4,000 \\\text { Machines } & 10,000\end{array}$
B)
$\begin{array}{l}\text { Cash }&5,000 \\\text { Machines }&&5,000\end{array}$
C)
$\begin{array}{ll}\text { Cash } & 5,000 \\\text { Loss on Sale of Machines } & 5,000 \\\text { Machines } & 10,000\end{array}$
D)
$\begin{array}{ll}\text { Cash } & 5,000 \\\text { Accumulated Depreciation } & 5,000 \\\text { Machines } & 10,000\end{array}$