Path:p Words:0 QUESTION 17 Equipment was acquired on January 1, 2018, for $100,000 with an estimated 5-year life and $20,000 residual value. The company uses straight-line depreciation. Prepare the journal entry to record the gain or loss if the equipment was sold on December 31, 2020, for $50,000. T T T Arial 3 (12pt) T-E- E- 's Path:p Words:0 QUESTION 18 Gains on the cash sales of property, plant, and equipment