1. ABO purchased a truck at the beginning of 2018 for $140,000. They sold the truck at the end of 2019 for $95,000. If the expected useful life of the truck was six years with a residual value of $20,000 and ABO uses straight-line depreciation, which of the following is true regarding the entry to record the sale of the truck?

   		Credit Gain $5,000.
   		Debit Loss $5,000.
   		Credit Accumulated Depreciation $40,000.
   		Credit Equipment $100,000.