Abc Company Sold A Machine For 56 000 That Originally Cost 306 000 The Balance O

ABC Company sold a machine for $56,000 that originally cost $306,000. The balance of the Accumulated Depreciation account related to this equipment was $240,000. The entry to record the gain or loss on the disposal of this machine would include

Select one:

a. A debit to gain in the amount of $10,000

b. A debit to loss in the amount of 10,000

c. A credit to loss in the amount off $10,000

d. A credit to gain in the amount of $10,000

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