Assume that instead of selling the delivery truck for $8,000, Elite sells it for $5,000 on July 1, 2020. What will be the net loss or gain from the disposal of this asset on July 1, 2020? Loss of $2,000 on the disposal of delivery truck Gain of $,000 on the disposal of delivery truck Gain of $1,000 on the disposal of delivery truck Loss of $1,000 on the disposal of delivery truck Assume that instead of selling the delivery truck for $8,000, Elite sells it for $5,000 on July 1, 2020. What will be the net loss or gain from the disposal of this asset on July 1, 2020? Loss of $2,000 on the disposal of delivery truck Gain of $,000 on the disposal of delivery truck Gain of $1,000 on the disposal of delivery truck Loss of $1,000 on the disposal of delivery truck