Recording a Disposal A company sells a building with a cost of $350,000 and accumulated depreciation of $270,000 and records the entry for the sale as follows: Cash Loss on Disposal 70,000 0,000 Building 80,000 Required: a. Did the company prepare the entry correctly? Select Hide If the entry was prepared correctly, leave all fields in the entry below blank. If not, prepare the correct entry. For a compound transaction, if an amount box does not require an entry, leaveit blank or enter "O" b. What would the gain or loss on sale be if the sale price was $97,000? Select