On January 1, 2016, Mullhausen Co. began using the composite depreciation method. There were three machines to consider, as follows:
At the end of the second year, Machine B was sold for $8,200. In the entry to record the sale, there should be a
A) $1,200 debit to Gain on Sale of Machine
B) $6,800 debit to Accumulated Depreciation
C) $6,800 debit to Loss on Sale of Machine
D) $8,000 debit to Accumulated Depreciation
Correct Answer:
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