An asset which costs $28,800 and has accumulated depreciation of $6,000 is sold for $21,600.What amount of gain or loss will be recognized when the asset is sold?
A)A gain of $1,200.
B)A loss of $1,200.
C)A loss of $7,200.
D)A gain of $7,200.

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The Answer of An asset which costs $28,800 and has accumulated depreciation of $6,000 is sold for $21,600.What amount of gain or loss will be recognized when the asset is sold?
A)A gain of $1,200.
B)A loss of $1,200.
C)A loss of $7,200.
D)A gain of $7,200.

An Asset Which Costs $28,800 and Has Accumulated Depreciation of $6,000