On January 1, 20X2, our company purchased and placed into service equipment with a cost of $45,000. We estimate the equipment's useful life to be 5 years with an estimated salvage value of $5,000. On December 31, 20X2, you are preparing the adjusting entry to record Depreciation Expense. Our company uses straight-line depreciation method. The dollar amount for the Depreciation Expense account is? Question 2 1 points On January 1, 20X2, our company purchased and placed into service equipment with a cost of $45,000. We estimate the equipment's useful life to be 5 years with an estimated salvage value of $5,000. Now, you prepare a Straight-line Depreciation Schedule that shows, for each of the 5 years, the Annual Depreciation Expense, the End of Period Accumulated Depreciation, and the End of Period Book Value. How much will you record for End of Period Accumulated Depreciation for December 31, 20X3? Question 3 1 points On January 1, 20X2, our company purchased and placed into service equipment with a cost of $45,000. We estimate the equipment's useful life to be 5 years with an estimated salvage value of $5,000. It is now January 8, 20x7. We have fully depreciated the equipment in 5 years 20X2-20X6. The book value of the equipment (Equipment account Accumulated Depreciation, Equipment account) = the $5,000 salvage value. We sell the equipment for $6,000. Your are preparing the journal entry to record the January 20x7 sale of this equipment. Is there a gain or a loss? gain loss