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How much was depreciation expense

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Question - On January 1, 2020, the Accumulated Depreciation-Machinery account of a particular company showed a balance of $1490000. At the end of 2020, after the adjusting entries were posted, it showed a balance of $1600000. During 2020, one of the machines which cost $495000 was sold for $243000 cash. This resulted in a loss of $15100. Assuming that no other assets were disposed of during the year, how much was depreciation expense for 2020?

a. $346900

b. $377100

c. $243000

d. $110000

Reference no: EM132631849

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