D Question 10 Equipment that cost $420,000 and on which $200,000 of accumulated depreciation has been recorded was disposed of for $180,000 cash. The entry to record this event would include a 1. gain of $40,000 2. loss of $40,000 3. credit to the Equipment account for $220,000 4. debit to Accumulated Depreciation for $200,000 Both Statement #2 and # 3. Both Statement #2 Only Statement #4 none of the choices are correct Only Statement #1 Both Statement #2 and #4 Only Statement #3 4 pts