Question 13 6.67 pts On July 1, 2018 Warehouse Inc. sells equipment for $500,000. The equipment originally cost $800,000 had an estimated 5-year life and an expected salvage value of $100,000. The accumulated depreciation had a balance of $300,000 on January 1, 2018. The company had used the straight-line method. The gain or loss on disposal is: no gain or loss Loss of $120,000 loss of $130,000 gain of $130,000