2) Francisco purchased a machine on January 1, 2012 for $600,000. Francisco estimated a useful...
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Accounting
2) Francisco purchased a machine on January 1, 2012 for $600,000. Francisco estimated a useful life of 10 years and residual value of $10,000. The company uses straight-line depreciation. The machine was sold on December 31, 2014 for $350,000. What was the gain/loss on disposal of the machine?
A) $70,000 loss.
B) $70,000 gain.
C) $73,000 loss.
D) $73,000 gain.
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