1. On 12 May 2016, a Field Office issued a purchase order (PO) to XYZ Trade for an electricity generator for $45,000.

2. On 30 June 2016, the generator was received and installed at the Field Office and an invoice was handed to the Office with the terms that the Payment is due in 30 days after delivery of the generator.

3. The useful life of the Generator is 5 years. Depreciation is charged on a straight-line basis, with proportionate monthly depreciation in the year of purchase/disposal.

4. As at 31 December 2018, the Field office sells the generator for $21,000.

5. On 22 January 2019, the buyer pays the $21,000 in full by transfer into the Field Office bank account.

You are required to calculate (1) accumulated depreciation as at 31 December 2018 and (2) Gain/Loss on sale of the asset.