C. Assuming that the equipment was sold on January 3 of Year 4 for $272,570, journalize the entry to record the sale. Refer to the Chart of Accounts for exact wording of account titles. How does grading work? PAGE 1 JOURNALACCOUNTING EQUATION Score: 43/49 DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY Jan. 3 Cash 272,570.00 Accumulated Depreciation-Equipment 72,660.00 Loss on Sale of Equipment 15,320.00 Loss on Sale of Equipment 360,550.00 Points: 7.9 / 9 D. Assuming that the equipment had been sold on January 3 of Year 4 for $303,490 instead of $272,570, journalize the entry to record the sale. Refer to the Chart of Accounts for exact wording of account titles. All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback. PAGE 1 JOURNALACCOUNTING EQUATION Score: 12/49 DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY Jan. 3 Cash 303,490.00 Points: 2.2 / 9 Check My Work C. Compare the book value amount to the sale price. If the book value is less than the sale price, the asset was sold for a gain. If the book value is more than the sale price, the equipment was sold for a loss. D. Compare the book value amount to the sale price. If the book value is less than the sale price, the asset was sold for a gain. If the book value is more than the sale price, the equipment was sold for a loss.