An asset acquired January 1, 2018, for $14,500 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 $6,200. The entry to record the sale would be: Multiple Choice Cash 6,200 Equipment 6,200 Cash Accumulated depreciation Loss on sale of equipment 6,200 3,625 4,675 Equipment 14,500 Cash 6,200 8,300 Accumulated depreciation Equipment 14,500 K Prev 9 of 23 Next >