On January 1, 2016, Mullhausen Co

question 128

Multiple Choice

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