Strawberry Fields purchased a tractor at a cost of exist38,000 and sold it two years later for exist24, 500. Strawberry Fields recorded depreciation using the straight-line method, a five-year service life, and an exist8,000 residual value. What was the gain or loss on the sale? Record the sale. (If no entry is required for a transaction/event, select "No journal entry required" In the first account field.)