An asset acquired January 1, 2021, for $14,800 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, 2022 for $6,100. The entry to record the sale would be: Multiple Choice Cash Accumulated depreciation Loss on sale of equipment Equipment $6,100 $3,700 $5,000 $14,800 Cash Accumulated depreciation Equipment $6,200 58.700 $14,800 $6.100 Equipment $6.100 Canh Los on sale of equipment upent 56,100 $8,700 514,800