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Information on a depreciable asset is as follows: Purchase Date September 1, 2017 Purchase Price $75,000 Salvage Value $10,000 Useful life Depreciation Method double-declining balance 4 years If the asset is sold on January 1, 2020 for $13,000, the journal entry to record the sale will include: Multiple Choice A debit to loss on sale for $2,625 A credit to accumulated depreciation for $59,375 A credit to gain on sale for $8,000 A credit to gain on sale for $4.979 A debit to loss on sale for $3,042