Help Save An asset acquired January 1, 2021, for $15,100 with an estimated 10-year life and no residual value is being depreciated in an equipment group asset account that has an average service life of eight years. The asset is sold on December 31, 2022, for $6,700. The entry to record the sale would be: Multiple Choice Cash Loss on sale of equipment Equipment $6,709 $8,400 $15, 100 O cash Equipment $5,700 $6,790 m Cash Accumulated depreciation Loss on sale of equipment Equipment $6,700 $3,775 $4,625 $15, 108 O Cash Accumulated depreciation Equipment $6,700 $8,420 $15, 100 Cutter Enterprises purchased equipment for $51,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $6,300. Using the sum-of-the-years'-digits method, depreciation for 2021 and book value at December 31, 2021, would be: Do not round depreciation rate per year) Multiple Choice $14,900 and $36,100 respectively. O $17000 and $34.000 respectively $17,000 and $27700 respectively. O $14.900 and $29,500 respectively