Question 5 8 points Save Answer A $25,000 piece of equipment with a useful life of 5 years and no residual value is being depreciated using the straight line method. At the end of 4 years the equipment was sold for $3,000. What will the journal entry include? A credit to loss on sale of $2000 . A debit to residual value of $3,000 OB A debit to accumulated depreciation of $20,000 OC A credit to Equipment of $5,000 Question 6 8 points Save Answer Which of the following is not an intangible asset: Patent OA Goodwill OB Land OC Franchise OD. Question 7 8 points Save Answer Car Express bought a delivery truck on January 1st 2020. The following are the details: Truck cost $75,000 Residual value $5,000 Useful life in years 5 Useful life in miles 50,000 If Car Express uses the straight-line method of depreciation what is the amount of depreciation expense on December 31, 2020? $13.000 . $16.000 OB $14,000 . $15.000 Question 8 8 points Save Answer Car Express bought a delivery truck on January 1st 2020. The following are the details: Truck cost: Residual Value: Useful Life years: Estimate Useful Miles: $75,000 $5,000 5 50,000 If Car Express uses the straight-line method of depreciation what is the Book Value at the end of two years on December 31, 2021? $47.000 OA $45,000 . $43,000 . $42.000 OD