Equipment purchased for $85,000 on January 1, 2006, was sold on July 1, 2008. The company uses the straight-line method of computing depreciation with a useful life of 5 years and a $0 salvage value. When recording the sale, the company should record a debit to Accumulated Depreciation for:

$51,000

none of these answers; Accumulated Depreciation is not debited.

$59,500

$42,500