2 5 C Equipment with a cost of $90,000 and estimated salvage value of $10,000 was installed on August 4, 2000. On January 1, 2025, the equipment was sold for $45,000 cash. Depreciation was recorded using the straight-line method every December 31, and the Accumulated Depreciation account had a balance of $50,000 at the date of the sale. The entry to record the sale of the equpment would be: A) Cash 45,000 Accumulated Depreciation, Equipment 50,000 Equipment 80,000 Gain on Sale of Equipment 15,000 45,000 50,000 90,000 5,000 Cash B) Depreciation Expense Equipment Gain on Sale of Equipment Cash C) 45,000 Accumulated Depreciation, Equipment 50,000 Equipment 90,000 Gain on Sale of Equipment 5,000 D) Equipment Gain on Sale of Equipment 90,000 5,000