If a car with a book value of $4,000 is sold for $5,000 cash, then which of the following is true Group of answer choices there is a loss on the sale of $1,000 there is a gain on the sale of $1,000 the purchase price and accumulated depreciation of the car need to be known before the question can be answered the accountant must clain the $5,000 cash as revenue on the income statement