On January 1, 2013, Horton Inc. sells a machine for $23,000. The machine was originally purchased on January 1, 2011 for $40,000. The machine was estimated to have a useful life of 5 years and no residual value. Horton uses straight-line depreciation. Make the journal entry to record this transaction.

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The Answer of On January 1, 2013, Horton Inc. sells a machine for $23,000. The machine was originally purchased on January 1, 2011 for $40,000. The machine was estimated to have a useful life of 5 years and no residual value. Horton uses straight-line depreciation. Make the journal entry to record this transaction.