(Answered) Question - harrison company purchased a machine for 11800

Accounting

Question - Harrison Company purchased a machine for $11,800 on January 1, 2016. The machine has been depreciated using the straight-line method over a four-year life with a $1,600 residual value. Harrison sold the machine on January 1, 2018, for $8,000. The book value as of December 31, 2017 is $6,700. What gain or loss should Hamilton record on the sale?

A. Loss, $ 1 comma 300

B. Loss, $ 1 comma 250

C. Gain, $ 2 comma 200

D. Gain, $ 1 comma 300

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