Allyn Company purchased equipment costing $55,000 on January 1, Year 1 useful life of 5 years. Straight-line depreciation is used, and all depreciation December 31, Year 4 for $20,000, the journal entry to record the sale is: Debit Cash, $20,000; Debit Accumulated Depreciation, $40,000; Credit E Debit Cash, $20,000, Debit Depreciation Expense, $40,000; Credit Equip Debit Cash, $20,000; Credit Equipment, $15,000, Credit Gain on Sale, $5, Debit Cash, $20,000; Debit Accumulated Depreciation, $35,000; Credit Eq Debit Cash, $20,000; Debit Loss on Sale, $35,000; Credit Equipment, $55.0