Devine Company sold a machine that originally cost $34,000 and accumulated depreciation of $27,000 and for $6,000.Devine had a/an

A) gain of $1,000.
B) extraordinary gain of $1,000.
C) loss of $1,000.
D) extraordinary loss of $1,000.

Accumulated Depreciation

The total depreciation for a fixed asset that has been charged to expense since the asset was acquired and put into use.

Salvage Value

The estimated residual value of an asset at the end of its useful life, often used in calculating depreciation expense.