The following information was taken from the records of Albert's Fine Coffee:
During 2010, machinery with a cost of $16,000 was sold.
The journal entry to record the sale of the machinery would include:
a. a debit to Accumulated Depreciation of $4,000.
b. a debit to Cash of $2,000.
c. a debit to Machinery for $16,000.
d. a credit to Gain on Sale for $3,000.

Question

The following information was taken from the records of Albert's Fine Coffee:
  During 2010, machinery with a cost of $16,000 was sold.
The journal entry to record the sale of the machinery would include: 
a. a debit to Accumulated Depreciation of $4,000.
b. a debit to Cash of $2,000.
c. a debit to Machinery for $16,000.
d. a credit to Gain on Sale for $3,000.

Quizplus · Accepted Answer

The Answer of The following information was taken from the records of Albert's Fine Coffee:
  During 2010, machinery with a cost of $16,000 was sold.
The journal entry to record the sale of the machinery would include: 
a. a debit to Accumulated Depreciation of $4,000.
b. a debit to Cash of $2,000.
c. a debit to Machinery for $16,000.
d. a credit to Gain on Sale for $3,000.

The Following Information Was Taken from the Records of Albert's