An asset acquired January 1, 2021, for $15,400 with an estimated 10-year life and no residual value is being deprecated in an equipment group asset account that has an average service life of eight years. The asset is sold on December 31, 2022, for $6,200. The entry to record the sale would be: Multiple Choice Cash Loss on sale of equipment Equipment $6,200 $9, 200 $15,400 Cash Accumulated depreciation Loss on sale of equipment Equipment 56,200 $3,850 $5,350 $15,400 $6,200 Cash Equipment $6,200 Cash Accumulated depreciation Equipment $6,200 $9,200 $15,400