General Journal Dropdown Options: Cash, equipment, accum. depr. equipment, gain on disposal, loss on disposal

GAINS and LOSSES Logan purchased a machine on 01/01/17. Use the following data in your calculations: COST 15,000 SALVAGE VALUE 3,000 LIFE 5 YEARS DEPRECIATION METHOD: SL 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? 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? General Journal Choose Account: Use dropdowns for your accounts. Thank you Choose Account: Choose Account: Choose Account