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16. Affordable Rugs is selling a used weaving machine for $8,000. The weaving machine was...

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Accounting

16. Affordable Rugs is selling a used weaving machine for $8,000. The weaving machine was originally purchased for $12,000 and the accumulated depreciation on the machine is $6,000. How would Affordable Rugs report the sale on the income statement?

Group of answer choices

A. As a Loss on Asset Sale (Other Expense) of $4,000

B. As a Gain on Asset Sale (Other Revenue) of $2,000

C. As a Gain on Asset Sale (Other Revenue) of $4,000

D. As a Loss on Asset Sale (Other Expense) of $2,000

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