Equipment That Cost $72,000 and on Which $60,000 of Accumulated

Multiple Choice

Equipment that cost $72,000 and on which $60,000 of accumulated depreciation has been recorded was disposed of for $18,000 cash. The entry to record this event would include a

A) gain of $6,000.
B) loss of $6,000.
C) credit to the Equipment account for $18,000.
D) credit to Accumulated Depreciation for $60,000.