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Ritenour manufacturing has an old factory machine that cost

Ritenour Manufacturing has an old factory machine that cost $50,000.The machine has accumulated depreciation of $28,000 and a fair value of $26,000. Ritenour has decided to sell the machine.

(a) What entry would Ritenour make to record the sale of the truck for $26,000 cash?

(b) What entry would Ritenour make to record the sale of the truck for $15,000 cash?

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Accounting Basics: Ritenour manufacturing has an old factory machine that cost

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