2pts Note: If you are unsure how to complete this problem, review the worksheets and videos provided in this module with example of similar problems. On January 1,2022, Abubakar, Ltd purchases Oifice Furniture for $36,000, They plan to use the furniture in operations for 10 years. They do not expect the furniture will have a salvage value. What is Abubakar's annual depreciation expense? What is Abubakar's monthly depreciation expense? On July 1, 2025, Abubakar sells the Office Fumiture for $26,000 cash. How much Depreciation Expense did Abubakar record in 2022? How much Depreciation Expense did Abubakar record in 2023? How much Depreciation Expense did Abubakar record in 2024? How much Depreciation Expense did Abubakar record in 2025, prior to the sale? (assume Abubakar records depreciation monthly) What is the balance in Abubuakar's Accumulated Depreciation account related to the Office Furniture on the Date of the Sale (July 1,2025)? What is the Net Book Value of the Office Furniture on the Date of Sale? Will Abubakar recognize a gain or a loss on the sale? enter gain or loss How much is the gain or loss? Prepare the journal entry to record the sale of the Office Fumiture. DR: Cash DR: Accumulated Depreciation CR: Gain on sale of Office Furniture CR: Office Furniture