g Marks Consulting purchased equipment costing $45,000 on January 1, Year 1. The equipment is estimated to have a salvage value of $5,000 and an estimated useful life of 8 years. Straight-line depreciation is used. The equipment is sold on July 1, Year 5 for $20,000. The journal entry to record the sale will include which of the following: Select one: a. DR: Loss on Sale $5,000 b. CR: Gain on Sale $2,500 c. CR: Loss on Sale $10,000 d. DR: Loss on Sale $2,500

James is an employee in the widget inspection department of xyz systems, a government contractor. james was part of a 3-person inspection team that found a particular batch of widgets did not meet the exacting requirements of the u. s. government. in order to meet the tight deadline and avoid penalties under the contract, james' boss demanded that the batch of widgets be sent in fulfillment of the government contract. when james found out, he went to the vice president of the company and reported the situation. james was demoted by his boss, and no longer works on government projects. james has a: