1, owns more than 50% of the investee's voting stock. 33. On January 1, 2016, Pentel purchases equipment for $65.000 with a useful life of 25 years, with no residual life. The company uses straight-line depreciation. On June 2021, the company decides to sell the equipment for $50,000. what is the journal entry that Pentel records when the sale of equipment takes place? A. (Dr.) Depreciation Expense (Dr.) Cash 4-S 11100 $15,300 $50,000 cost-res (Cr.) Gain on sale (Cr.) Equipment $300 $65,000 G,7000 B. (Dr.) Accumulated Depreciation (Dr.) Cash $7,500 $50,000 (Cr.) Gain on sale $7,500 $50,000 (Cr.) Equipment C. (Dr.) Depreciation Expense $15,700 $50,000 (Dr.) Cash $ 700 $65,000 (Cr.) Loss on sale (Cr.) Equipment $14,300 $50,000 700 D. (Dr.) Accumulated Depreciation (Dr.) Cash (Dr.) Loss on sale $65,000 (Cr.) Equipment 34. Total asset turnover is used to evaluate A. The efficiency of management's use of assets to generate sales B. The number of times operating assets were sold during the year C. The cash flows used to acquire assets D. The relation between asset cost and book value