On July 1, 2018, Nanette Company Purchased Equipment for $216,000

Multiple Choice

On July 1, 2018, Nanette Company purchased equipment for $216,000. Nanette uses straight-line depreciation and estimates a six-year useful life and a $36,000 salvage value. On December 31, 2021, the equipment is destroyed by fire. The equipment is not insured.
The journal entry to record the equipment's destruction should reflect:

A) A $ 36,000 loss
B) A $111,000 loss
C) A $ 75,000 loss
D) A $105,000 loss