Martinez owns an asset with a book value of $47,000. The company sells the equipment for cash of $42,000. At the time of the sale, the company should record

A. no gain or loss on the sale
B. a loss on sale of $2,000
C. a gain on sale of $5,000
D. a loss on sale of $5,000

Ans: D. a loss on sale of $5,000

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