Equipment That Cost $90,000 and on Which $50,000 of Accumulated

Multiple Choice

Equipment that cost $90,000 and on which $50,000 of accumulated depreciation has been recorded was disposed of for $45,000 cash.The entry to record this event would include a

A) gain of $5,000.
B) loss of $5,000.
C) credit to the Equipment account for $15,000.
D) credit to Accumulated Depreciation for $15,000.