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Prime Company purchased equipment on January 1, 2018, for $33,000. Suppose Pine Company sold the equipment for $4,000 an December 31, 2019. Accumulated Depreciation as

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Prime Company purchased equipment on January 1, 2018, for $33,000. Suppose Pine Company sold the equipment for $4,000 an December 31, 2019. Accumulated Depreciation as of December 31, 2019 was $15.000. Jounale the sale of the equipment, asuming straight-line depreciation was used First calculate any gain or loss on the sale of the equipment Enter a loss with a mission or parentheses) Market value of assets received Less Book value of asset disposed of Cost Less Accumulated Depreciation Gain or (Los)

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