On January 1, Jarvis Technologies purchased a $45,000 vehicle to chauffeur clients to prospective homes Homes plans on driving the vehicle for six years or 100,000 miles. Expected salvage (residual) value is $3,000 The balance in the accumulated depreciation account at the end of Year 1 of the asset, after recording depreciation using the double-des balance method, is: O $27,000 O $14,000 $15,000 $28,800 Question 43 A loss is recorded on the disposal of plant assets when: O An asset is sold for a price greater than the asset's book value O The asset's salvage value is less than the cash received O The asset's book value is greater than the amount of cash received from the sale The asset's depreciable cost is greater than the cash received