On January 1, 2013, a machine with an estimated life of 5 years and an estimated residual value of $5,000 was acquired for $40,000. On July 1, 2015, the machine was sold for $7,000 cash. The journal entry to record the sale
A)decreases stockholder's equity.
B)increases total assets.
C)decreases total expenses.
D)increases net income.

Question

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The Answer of On January 1, 2013, a machine with an estimated life of 5 years and an estimated residual value of $5,000 was acquired for $40,000. On July 1, 2015, the machine was sold for $7,000 cash. The journal entry to record the sale
A)decreases stockholder's equity.
B)increases total assets.
C)decreases total expenses.
D)increases net income.

On January 1, 2013, a Machine with an Estimated Life