debit or C for credit in the first box and the amount in the second box. 1. What is the net book value of the equipment on July 30.2020 ? b. Assume Cullumber scraps the equipment as having no value on July 30 . What is the gain or loss, if any, that Cullumber should recognize? Assume Cullumber sells the equipment for $37.200 cash on July 30 . What is the gain or loss, if any. that Cullumber should recognize? d. Assume Cullumber sells the equipment for $18,000 cash on July 30 . What is the gain or loss, if any. that Cullumber should recognize