Strawberry Fields purchased a tractor at a cost of $40,000 and sold it two years later for $25,800. Strawberry Fields recorded depreciation 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. Required 1 Required 2 What was the gain or loss on the sale? on sale Strawberry Fields purchased a tractor at a cost of $40,000 and sold it two years later for $25,800. Strawberry Fields recorded depreciation 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. Required Required 1 2 Record the sale. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the sale. Note: Enter debits before credits. Transaction Record entry General Journal Debit Credit Clear entry View general journal >