Equipment was acquired on January 1, 2021, for $24,000 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 $7,300 Multiple Choice $7,300 Cash Equipment Gain $6,750 $550 $7,300 $17,250 Cash Accumulated Depreciation Equipment Gain $24,000 $550 Cash Accumulated Depreciation Loss Equipment $7,300 $11,500 $5,200 $24,000 O $7,300 Cash Equipment Gain $6,750 $550 Cash Accumulated Depreciation Equipment Gain $ 7,300 $17,250 $24,000 $550 Cash Accumulated Depreciation LOSS Equipment $7,300 $11,500 $5,200 $24,000 $ 7,300 Cash Equipment Gain $5,750 $1,550