Coronado Company purchased equipment on January 1, 2017 for $71000. The estimated useful life of the equipment is 5 years, the salvage value is $8000, and the company uses the double-declining balance method to depreciate fixed assets. Which of the following journal entries would Coronado record if the equipment is sold for $17000 after three years? 71000 Equipment Loss on Disposal of Plant Asset 1664 Cash 17000 Accumulated Depreciation-Equipment 55664 Cash 17000 Gain on Disposal of Plant Asset 7336 Equipment Cash Depreciation Expense Loss on Disposal of Plant Asset 10224 17000 10224 43776 71000 Equipment Cash Accumulated Depreciation-Equipment 17000 55664 71000 Equipment Gain on Disposal of Plant Asset 1664