Gaston Owns Equipment That Cost $90,500 with Accumulated Depreciation of $61,000.Gaston

Multiple Choice

Gaston owns equipment that cost $90,500 with accumulated depreciation of $61,000.Gaston asks $30,000 for the equipment but sells the equipment for $26,000.Which of the following would not be part of the journal entry to record the disposal of the equipment?

A) Debit Accumulated Depreciation $61,000.
B) Credit Equipment $90,500.
C) Debit Loss on Disposal of Equipment $3,500.
D) Credit Gain on Disposal of Equipment $3,500.
E) Debit Cash $26,000.