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Qulz chpt7 0 Submmed 30.54/35 Total points awarded Help Exit Strawberry Fields purchased a tractor at a cost of $37,000 and sold it two years later for $24,400. Strawberry Fields recorded depreciation using the straight-line method. a ve-year service life, and an $8.000 residual value' 1. What was the gain or loss on the sale? o-s mo 136/134 points awarded Scored 2. Record the sale. (If no entry ls required tor a particular transaction/event. select "No Journal Entry Required" in the rst account eld.) 1 1 Cash 9 24,500 0 Accumulated Depreciation 0 11.600 9 Loss 0 900 0 Equipment 9 37,000 a Qulz chpt7 0 Submmed 30.54/35 Total points awarded Help Exit A machine has a cost of $17,100. an estimated residual value of $3.990. and an estimated useful life of seven years. The machine is being depreciated on a straight-line basis. At the end of the second year, what amount will be reported for accumulated depreciation? (Do not round your Intermediate calculations. Round annual depreciation amount to the nearest dollar amount.) 0/134 points awarded Multiple Choice . $1.373. $3.746. O 0 $13,354. 0 $4,886. 50f 18 HllalW ducationConnect ducaticConnect ducation