1 points Save SportsWorld bought a new display case for $12.000 after using the original for 4 years and was given a trade-in of $2,000 on an old display case. The old case had an original cost of $7,000, a residual value of $2.000 and useful life of 5 years. SportsWorld should record the following at time of trade in: a debit entry to new display case of $5,000 and no gain or los on trade-in a credit to the old display case of $3,000 and debit to new display case of $12.000 $1,000 gain on trade-in and accumulated depreciation of $4,000 $1,000 loss on trade in and a debit entry to new display case of $12,000 accumulated depreciation of $4.000 and a $1,000 loss on trade-in