Strategic Sales purchased a machine on January 1, 2010 which cost $210,000, had a residual value of $10,000 and a useful life of 5 years.
Strategic Sales can replace this machine with one that is more efficient and sells the old machine for $45,000 on July 1, 2012.
Prepare the appropriate journal entry to record the sale of this machine, assuming the company uses the double-declining-method of depreciation.

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The Answer of Strategic Sales purchased a machine on January 1, 2010 which cost $210,000, had a residual value of $10,000 and a useful life of 5 years.
Strategic Sales can replace this machine with one that is more efficient and sells the old machine for $45,000 on July 1, 2012.
Prepare the appropriate journal entry to record the sale of this machine, assuming the company uses the double-declining-method of depreciation.

Strategic Sales Purchased a Machine on January 1, 2010 Which