An asset acquired January 1, 2021, for $15,700 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 $6,600. The entry to record the sale would be: Multiple Choice

A. Cash $6,600

Accumulated depreciation $9,100

Equipment $15,700

B. Cash $6,600

Loss on sale of equipment $9,100

Equipment $15,700

C. Cash $6,600

Equipment $6,600

D. Cash $6,600

Accumulated depreciation $3,925

Loss on sale of equipment $5,175

Equipment $15,700