In 2014, Cheyenne Corp. has plant equipment that originally cost $165000 and has accumulated depreciation of $50000. A new processing technique has rendered the equipment obsolete, so it is retired. Which of the following entries should Cheyenne use to record the retirement of the equipment?

Loss on Disposal of Plant Assets

115000

Equipment

115000

Accumulated Depreciation - Equipment

50000

Loss on Disposal of Plant Assets

115000

Equipment

165000

Loss on Disposal of Plant Assets

115000

Accumulated Depreciation - Equipment

115000

Plant Equipment

165000

Accumulated Depreciation - Equipment

50000

Loss on Disposal of Plant Assets

115000