Question 25 On February 28, 2015, George Corporation acquired a truck worth P 750,000. It had a residual value of P75,000 and an expected useful life of ten years using straight line method. On August 31, 2018, the truck was sold for P538,700. Compute for the following: 1. Net book value of the truck on the date of sale. - 2. Gain or loss on the sale of truck (Follow format XX.XXX.XX GAIN or XX.XXX.XX LOSS as applicable)