an asset acquired January 1, 2018, for $14,900 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 Accumulated depreciation Equipment 6,200 8,700 14,900 6,200 3,725 Cash Accumulated depreciation Loss on sale of equipment Equipment 4,975 14,900 Cash Equipment 6,200