11:56 & 2 points Smiley Corporation sold equipment costing $72,000 with $66,000 of accumulated depreciation for $11.000 cash. Which of the following journal entries should be prepared? debit Accumulated Depreciation - Equipment for $66,000 and credit Equipment for $66,000 debit Cash for $11,000, credit Equipment for $6000 and credit Gain on Sale of Equipment for $5000 debit Cash for $11,000 and credit Gain on Sale of Equipment for $11,000 debit Cash for $11,000, debit Accumulated Depreciation - Equipment for $66,000, credit Equipment for $72,000 and credit Gain on Sale of Equipment for $5000 2 points Revenues and expenses are closed to which account? III