If the Company Sells the Machine at the End of 5

question 118

Multiple Choice

If the company sells the machine at the end of 5 years and receives $11,500, the journal entry to record the sale will include which of the following?

• A) Debit to Accumulated Depreciation for $138,000.
• B) Credit to Machine for $138,000.
• C) Debit to Loss on Sale for $500.
• D) Credit to Residual Value for $12,000.

---

Definitions:

Rapid Development

The process of quickly bringing a new product or technology to the market or achieving progress in a short amount of time.

Tolerance

Tolerance is the capacity to endure pain or hardship, or in pharmacology, it refers to the body's adaptation to a drug which reduces its effects over time.

Quarrelsomeness

The tendency to engage in arguments or disputes easily, often with a hostile attitude.

Mood Swings

Rapid and often extreme fluctuations in one's emotional state, where feelings can change from highs (euphoria) to lows (despair) quickly or without apparent reason.