An asset acquired January 1, 2018, for $14,400 with an estimated 10-year life and no residual value is being depreciated in an equipment group asset account that has an average service life of eight years. The asset is sold on December 31, 2019, for $6,100. The entry to record the sale would be:

6, 100 8, 300 as Loss on sale of equipment Equipment 14, 400 as Accumulated depreciation Loss on sale of equipment 6, 100 3, 600 4, 700 Equipment 14, 400 6, 100 8, 300 as Accumulated depreciation Equipment 14, 400 6, 100 as Equipment 6, 100