In $2025,$ Sunland Manufacturing Corporation has plant equipment that originally cost $$135000$ and has accumulated depreciation of $$47000.$ A new processing technique has rendered the equipment obsolete, so it is retired. Which of the following entries should the company use to record the retirement of the equipment?

Loss on Disposal of Plant Assets

$88000$

Accumulated Depreciation $-$ Equipment

$88000$

Loss on Disposal of Plant Assets

$88000$

Equipment

$88000$

Accumulated Depreciation $-$ Equipment $47000$

Loss on Disposal of Plant Assets

$88000$

Equipment

$135000$

Equipment

$135000$