On January 1, 2015, Morgantown 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, 2017, one of the machines was sold for $5,000. The correct entry to record the sale of the machine is

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The Answer of On January 1, 2015, Morgantown 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, 2017, one of the machines was sold for $5,000. The correct entry to record the sale of the machine is