14. In 2017, Blanchard Corporation has plant equipment that originally cost $120,000 and has accumulated depreciation of $48,000. A new processing technique has rendered the equipment obsolete, so it is retired. Which of the following should Blanchard do to record the retirement of the equipment? a. Decrease to Accumulated Depreciation - Equipment for $48,000, increase to Loss on Disposal for $72,000, and decrease to Equipment for $120,000. b. Increase to Equipment for $120,000, increase to Accumulated Depreciation - Equipment for $48,000 and a decrease to Loss on Disposal for $72,000. C. Increase to Loss on Disposal and Accumulated Depreciation - Equipment for $72,000. d. Increase to Loss on Disposal and decrease to Equipment for $72,000