QUESTION 9 Alliance Products purchased equipment that cost $120,000. it had an estimated useful life of four years and no residual value. The should record: O Again of $5,000. 0 A loss of $5,000. O Neither a gain nor a loss since the computer was sold at its book value ONeither a gain nor a loss since the gain would not be recognized. cuipgment was dpreclacd by the straigh line method and was sold at the end of the second yeir of use for 65000 cash Alince