COST SALVAGE VALUE LIFE DEPRECIATION METHOD: SL 15,000 3,000 5 YEARS What is the depreciation amount per year? What is the Accumulated Depreciation after 3 years? What is the book value of the asset at the end of year 3? 2400 7200 7800 The machine was sold at the end of 3 years for cash of $7,400. Did the company make a GAIN or a LOSS? What was the AMOUNT of the gain or loss? LOSS 400 Use dropdowns for your accounts. Thank you. General Journal CASH ACCUM. DEPR. EQUIPMENT LOSS ON DISPOSAL EQUIPMENT 8300 7200 400 15000i