8) The following are selected transactions affecting the Campbell Company's long-term assets during the 2009 fiscal year. Campbell s year-end is December 31. . . On June 30, Cambell sold a piece of equipment that was purchased on January 1, 2007. The equipment cost $60,000, and had a useful life of 8 years with a $6,000 salvage value and was being depreciated using the double-declining balance method. The equipment was sold for $36,000. Record the June 30 journal entry to recognize the sale of the equipment. Debit Cash 36,000; debit Accumulated Depreciation 30,469; credit Equipment 60,000; credit Gain on Sale 6,469 Debit Cash 36,000; debit Accumulated Depreciation 26,250; credit Equipment 60,000; credit Gain on Sale 2,250 Debit Equipment 60,000; debit Loss on Sale 2,250; credit Accumulated Depreciation 26,250, credit cash 36,000 Debit Cash 36,000; debit Accumulated Depreciation 24,000; credit Equipment 60,000 9) Rooney Inc. renovated an office building it owns and expanded its capacity at a cost of $200,000 in 2009. The renovations increased the salvage value of the building to $50,000. The event of renovating the building should be accounted for as a(n): Loss in the amount of $50,000 A capital expenditure in the amount of $50,000 Loss in the amount of $200,000 capital expenditure in the amount of $200,000