Answer:
Explanation:
The journal entries are shown below:
1. Accumulated depreciation A/c Dr $182,000
Loss on machine A/c Dr $68,000
To Machine A/c $250,000
(Being the dispose of the machine is recorded)
2. Cash A/c Dr $35,000
Accumulated depreciation A/c Dr $182,000
Loss on machine A/c Dr $33,000
To Machine A/c $250,000
(Being the sale of the machine is recorded)
3. Cash A/c Dr $68,000
Accumulated depreciation A/c Dr $182,000
To Machine A/c $250,000
(Being the sale of the machine is recorded)
4. Cash A/c Dr $80,000
Accumulated depreciation A/c Dr $182,000
To Machine A/c $250,000
To Profit on machine A/c Dr $12,000
(Being the sale of the machine is recorded)
