The Atex Co. providing delivery service for most of the small-size businesses has an old truck which was purchased for $20,000 3 years ago. The truck has a useful life of 5 years and no residual value. After 3 years of full depreciation, the company decided to dispose of truck at a cash price of $5,000. Calculate the gain or loss on disposal of the truck and show the required journal entry for the disposal?