A machine with a book value of $38,000 is sold for $32,000. Which of the following answers would accurately represent the effects of the sale on the elements of the financial statements? Assets=Liab.+Stk.EquityRev./Gain?Exp.=Net Inc.Stmt of Cash FlowA.38,000 NA 38,00038,000 NA 38,00038,000 IAB.(6,000) NA (6,000)NA 6,000 (6,000)6,000 OAC.(6,000) NA (6,000)NA 6,000 (6,000)6,000 IAD.(6,000) NA (6,000)NA 6,000 (6,000)32,000 IA

A. Option A
B. Option B
C. Option C
D. Option D


Answer: D

Business

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