On July 1, 2022, Dillman Kennels Sells Equipment for $110,000

Multiple Choice

On July 1, 2022, Dillman Kennels sells equipment for $110,000.The equipment originally cost $300,000, had an estimated 5-year life and an expected salvage value of $50,000.The Accumulated Depreciation account had a balance of $175,000 on January 1, 2022 using the straight-line method.The gain or loss on disposal is

A) $15,000 gain.
B) $10,000 loss.
C) $15,000 loss.
D) $10,000 gain.