ABC Company has the following asset on its books. Match the appropriate disposal journal entry.

Equipment: Purchase price

Accumulated Depreciation

Book value

$$40,000$

$\frac{35,000}{5,000}$

$\backslash$table$[[$A$/$D$,,35,000,],[$Cash$,,8,000,],[,$Equipment,,$40,000],[,$Gain,,$3,000]]$

The asset was sold for $$2,000$ cash.

$\backslash$table$[[$A$/$D$,,35,000,],[$Cash$,,2,000,],[$Loss$,,3,000,],[,$Equipment,,$40,000]]$

The asset was sold for $$8,000$ cash.