20. Which of the following journal entries is subsequent to acquisition? owing journal entries is correct when a depreciable asset (building) is sold for cash Cash a Accumulated Depreciation Loss on Sale Cash b. Building Gain on Sale Accumulated Depreciation Cash . Accumulated Depreciation CLoss on Sale ?. Cash d. Gain on Sale Building 21. A contingent liability that is "reasonably possible" but "cannot reasonably be a. must only be disclosed as a note to the financial statements b. must be recorded and reported as a 1iability c. does not need to be recorded or reported as a liability d. must be reported as a liability, but not recorded. always be 22. Financial leverage vill a. Positive b. Positive, negative, or zero. c. Negative d. gither positive or negative