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Company H owns a conveyor belt that cost $85,000 with a residual value of $5,000 and a useful life of 10 years. Assume the company

Company H owns a conveyor belt that cost $85,000 with a residual value of $5,000 and a useful life of 10 years. Assume the company purchased the asset on January 1st of the first year. IF the company sells the asset on January 1st of year 5, for $61,000 cash what is the amount of Gain / Loss the Company would record? Use the straight-line depreciation method.

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