Completion Status: Due to a decrease in demand, Michael Scott is retiring a photo copier before the end of its estandele. The beans that is remaining on his books prior to the asset retirement is a debit in the Equipment account of $50,000 and a credit Accumulated Depreciation of $30,000. What is the entry that Michael Scott should record when he retires es as O Debit Loss on Rebarment $20,000; Credit Accrued Liabetes $20,000 O Debit Accumulated Depreciation $30,000; Debit Loss on Retirement $20,000; Credit Equipment $50,000 O Debit Equipment $50,000; Credit Accumulated Depreciation $30,000; Credit Gain on Retirement $20,000 O Not enough information available to answer this question QUESTION 18 Faber Industries buys equipment on January 1, 2021 for $100,000. The equipment has an estimated useful life of 10 years and 1 it has salvage value of $20,000. Faber will depreciate this asset using the straight-line method. What is the net book value of this asset on December 31, 20217 $90,000 $100,000 $8,000 O $92,000 3 points Click Save All Ansors to same all anerers Save Al Mowers Seve and Subunt