Equipment was purchased for $$37,000$ on January $1,2024.$ The equipment's estimated useful life was five years, and its residual value was $$3,000.$ The double $-$ declining $-$ balance method of depreciation was used. What is the journal entry to record the sale of the equipment for $$42,000$ on January $3,2025?$

A$.$ Equipment

Accumulated Depreciation $-$ Equipment Gain on Disposal Cash

B$.$ Cash

Accumulated Depreciation $-$ Equipment Gain on Disposal Equipment

C$.$

$\backslash$table$[[$Cash$,42,000],[$Accumulated Depreciation $-$ Equipment,$3,000],[$Gain on Disposal,$8,000],[$Equipment$,37,000]]$

D$.$ Equipment

Accumulated Depreciation $-$ Equipment $42,00010,200$ Gain on Disposal Cash

$37,000$

$13,600$

$8,600$

$42,000$

$42,000$

$14,800$

$19,800$

$37,000$

$\backslash$table$[[$Accumulated Depreciation $-$ Equipment,$3,000],[$Gain on Disposal,$8,000],[$Equipment$,37,000]]$