An asset with a cost of $45,000 and accumulated depreciation of $37,500 is sold for $9,500.What is the amount of the gain or loss on disposal?
A)$2,500 loss
B)$2,500 gain
C)$2,000 gain
D)$2,000 loss

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The Answer of An asset with a cost of $45,000 and accumulated depreciation of $37,500 is sold for $9,500.What is the amount of the gain or loss on disposal?
A)$2,500 loss
B)$2,500 gain
C)$2,000 gain
D)$2,000 loss

An Asset with a Cost of $45,000 and Accumulated Depreciation