Gaston owns equipment that cost $32,000 with accumulated depreciation of $22,400. Gaston sells the equipment for $8,600. Which of the following would not be part of the journal entry to record the disposal of the equipment?

Multiple Choice

• Credit Gain on Disposal of Equipment $1,000.

• Debit Cash $8,600.

• Debit Loss on Disposal of Equipment $1,000.

• Credit Equipment $32,000.

• Debit Accumulated Depreciation $22,400.