ABC Company has the following asset on its books. Match the appropriate disposal journal entry.

Equipment: Purchase price

Accumulated Depreciation

$$40,000$

$\frac{35,000}{5,000}$

Book value

$\frac{35,000}{5,000}$

$\backslash$table$[[$A$/$D$,,35,000,],[$Cash$,,5,000,],[,$Equipment,,$40,000]]$

The asset was scrapped with no salvage value.

$\backslash$table$[[\frac{A}{D},,35,000,],[$Loss$,,5,000,],[,$Equipment,,$40,000]]$

The asset was sold for $$5,000$ cash.