Equipment was purchased at a cost of $52,000. It had an estimated useful life of seven years and a residual value of $3,000. Assuming the equipment was sold at the end of Year 6 for $14,000, which of the following will be included in the journal entry? (Assume the straight-line depreciation method.)

a.Debit to Gain on Sale of Asset for $4,000

b.Credit to Loss on Sale of Asset for $4,000

c.Debit to Accumulated Depreciation for $42,000

d.Credit to Cash for $14,000