E9-7B. Sale of Plant Asset Shannon Company has equipment that originally cost $68,000. Depreciation has been recorded for six years using the straight-line method, with a $9,000 estimated salvage value at the end of an expected eight-year life. After recording depreciation at the end of six years. Shannon sells the equipment. Prepare the journal entry to record the equipment's sale for: a. $30,000 cash. b. $23,750 cash. c. $21,000 cash