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2. Gain or Loss on Sale of PPE On December 31, 2020, Hamilton Inc. sold a used industrial crane for $600,000cash. The original cost of the crane was $5.0 million and its accumulated depreciation equaled $4.2 million on December 31, 2020. What is the gain or loss from the December 31, 2020 equipment sale? A) $600,000 loss. B) $200,000 loss. C) $200,000 gain. D) $600,000 gain. Red sells $25,000 of products to Yellow on June 19 with terms 3/10,n/90. Record the journal entries for Red if Yellow pays on June 25