Equipment was acquired on January 1, 2021, for $21,000 with an estimated four-year life and $1,000 residual value. The company uses straight-line depreciation Record the gain or loss if the equipment was sold on December 31, 2023, for $7100. Multiple Choice C ) $7,100 $15,000 Cash Accumulated Depreciation Equipment S Gain $21,000 $1,100 $7.100 Cash Equipment $6,000 $1,100) Gain | $ 7,100 Cash Equipment $5,000 $2,100 Cash $7,100 Accumulated Depreciation $10,000 LOS $3,900 RRRRRRRRRRRRR