In $2021,$ Stevenson Company has plant equipment that originally cost $$55,000$ and has accumulated depreciation of $$30,000.$ A new processing technique has rendered the equipment obsolete, so it is retired. Which of the following entries should Pronto use to record the retirement of the equipment?

Group of answer choices

Loss on Disposal $55,000$

Plant Equipment $55,000$

Loss on Disposal $55,000$

Accumulated Depreciation $$ Plant Equipment $55,000$

Plant Equipment $55,000$

Accumulated Depreciation $$ Plant Equipment $30,000$

Loss on Disposal $25,000$

Accumulated Depreciation $$ Plant Equipment $30,000$

Loss on Disposal $25,000$

Plant Equipment $55,000$