Question: 1 point Suppose Derek Corp sold equipment for $8,000 cash. The equipment was purchased for $110,000 and was depreciated using the straight line method. The

1 point Suppose Derek Corp sold equipment for $8,000 cash. The equipment was purchased for $110,000 and was depreciated using the straight line method. The accumulated depreciation account had a balance of $100,000. What amount of gain or loss will be recorded? $2,000 Gain $2,000 Loss $10,000 Gain $10,000 Loss

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