The Entry to Record the Disposal of a Laptop Computer

Multiple Choice

The entry to record the disposal of a laptop computer with a cost of $3,000 and an accumulated depreciation of $2,500 would be:

A) debit Depreciation Expense $3,000; credit Equipment $3,000.
B) debit Accumulated Depreciation $2,500; debit Loss on Disposal of an Asset $500; credit Equipment $3,000.
C) debit Equipment $3,000; credit Accumulated Depreciation $3,000.
D) debit Cash $3,000; credit Equipment $3,000.