Question: An asset's book value is $ 1 8 , 0 0 0 on December 3 1 , Year 5 . The asset has been depreciated

An asset's book value is $18,000 on December 31, Year 5. The asset has been depreciated at an annual rate of $3,000 on the straight-line method. Assuming the asset is sold on December 31, Year 5 for $15,000, the company should record:
Neither a gain nor a loss is recognized on this transaction
A loss on sale of $12,000
12 A gain on sale of $12,000
A loss on sale of $3,000
An asset's book value is $ 1 8 , 0 0 0 on

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