An asset that cost $20,000 and has accumulated depreciation of $15,000 is sold for $2,000. The journal entry would include a:
A) debit to Loss on Disposal of $5,000.
B) debit to Loss on Disposal of $3,000.
C) credit to Gain on Disposal of $3,000.
D) credit to Accumulated Depreciation for $15,000.

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The Answer of An asset that cost $20,000 and has accumulated depreciation of $15,000 is sold for $2,000. The journal entry would include a:
A) debit to Loss on Disposal of $5,000.
B) debit to Loss on Disposal of $3,000.
C) credit to Gain on Disposal of $3,000.
D) credit to Accumulated Depreciation for $15,000.

An Asset That Cost $20,000 and Has Accumulated Depreciation of $15,000