A company sells a plant asset that originally cost $500000 for $225000 on December 31, 2022. The accumulated depreciation account had a balance of $200000 after the current year's depreciation of $50000 had been recorded. The company should recognize a $25000 loss on disposal. $75000 loss on disposal. $275000 loss on disposal, $75000 gain on disposal Equipment that cost $104000 and on which $58000 of accumulated depreciation has been recorded was disposed of for $53000 cash. The entry to record this event would include a credit to the Equipment account for $19000. credit to Accumulated Depreciation for $19000 gain of $7000. loss of $7000