On January 1, 2018, Manzanita Manufacturing purchased a machine for $345,000 with an expected life of 5 years and a residual value of $37,500. In addition, the company paid delivery costs of $3,000 and $12,000 to have the machine installed. Manzanita uses the double-declining-balance method of depreciation. If the company sells the machine at the end of 5 years and receives $28,750, the journal entry to record the sale will include which of the following?

A. Credit to Residual Value for $30,000.
B. Credit to Machine for $345,000.
C. Debit to Loss on Sale for $8,750.
D. Debit to Accumulated Depreciation for $345,000.

James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u.s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.