An asset acquired January 1, 2021, for $14,600 with an estimated 10-year life and no residual value is being depreciated in an equipment group aset account that has an average service life of eight years. The asset is sold on December 31, 2022, for $5,700. The entry to record the sale would be: Cash Accumulated depreciation Equipment $5,700 $8,900 $14,600 Cash Loss on sale of equipment Equipment $5,700 $8,900 $14,600 Cash Accumulated depreciation Loss on sale of equipment Equipment $5,700 $3,650 $5,250 $14,600 Cash Equipment $5,700 $5,700