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Strawberry Fields purchased a tractor at a cost of $39,000 and sold it two years later for $25,700. Strawberry Fields recorded depreclation using the straight-line

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Strawberry Fields purchased a tractor at a cost of $39,000 and sold it two years later for $25,700. Strawberry Fields recorded depreclation using the straight-line method, a five-year service life, and an $8.000 residual value. 1. What was the gain or loss on the sale? 2. Record the sale. Complete this question by entering your answers in the tabs below. What was the gain or loss on the sale? depreciation using the straight-line method. a five-year service lire, 1. What was the gain or loss on the sale? 2. Record the sale. complete this question by entering your answers in the tabs below. Record the sale. (if no enty is required for a particular transaction/event, select Journal entry worksheet Record the sale. Wote: Entor debits before eredits

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