On May 1, 2020, Pinkley Company sells office furniture for $90,000 cash. The office furniture originally cost $225,000 when purchased on January 1, 2013. Depreciation is recorded by the straight-line method over 10 years with a salvage value of $22,500.

A. What depreciation expense should be recorded on this asset in 2010?

B. What gain should be recognized on the sale?

C. Process the Journal Entries to record the sale on the Asset