On January 1, 2018, Dunbar Echo Co. sells a machine for $46,000. The machine was originally purchased on January 1, 2016 for $80,000. The machine was estimated to have a useful life of 5 years and a residual value of $0. Dunbar Echo uses straight-line depreciation. In recording this transaction:
A. a loss of $34,000 would be recorded.
B. a gain of $46,000 would be recorded.
C. a gain of $2,000 would be recorded.
D. a loss of $2,000 would be recorded.
Answer: D
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