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Question 1 2 pts Information on a depreciable asset is as follows: Purchase date 1/1/2015 Purchase price $45,000 Salvage value $5,000 Useful life 8 years

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Question 1 2 pts Information on a depreciable asset is as follows: Purchase date 1/1/2015 Purchase price $45,000 Salvage value $5,000 Useful life 8 years Depreciation method straight-line If the asset is sold on July 1, 2019 for $20,000, the journal entry to record the sale will include: (Note: Remember to calculate the depreciation taken to the date of sale.)

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