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On January 1, 2019. Christmas Lights R Us purchased a new machine to automate the boxing of Christmas lights for $34,000 cash. The machine is

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On January 1, 2019. Christmas Lights R Us purchased a new machine to automate the boxing of Christmas lights for $34,000 cash. The machine is expected to have an estimated useful life of 4 years and a salvage value of $5,000. The company uses the double-declining balance method of depreciation On April 1.2020 Christmas Lights R Us sold the machine and received $14,000 in cash. What amount of gain or loss on disposal would Christmas Lights R Us record on April 1, 2020? (In the space below, record (1) whether a GAIN or LOSS would be recorded and (2) the dollar value of that gain/loss.)

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