Help Save & Exit Equipment was acquired on January 1, 2021, for $34,000 with an estimated four-year life and $3,000 residual value. The company uses straight-line depreciation. Record the gain or loss if the equipment was sold on December 31, 2023, for $11,200. Multiple Choice Cash Accumulated Depreciation $11,200 $23,250 Equipment $34,000 Gain $450 Cash $11,200 Equipment Gain $10,750 $450 Cash $11,200 Equipment $7,750 Gain $3,450 Cash $11,200 Accumulated Depreciation $15,500 Loss $7,300 Equipment $34,000