In 2022. Novak Corp. has plant equipment that originally cost $240000 and has accumulated depreciation of $40000. A new processing technique has rendered the equipment obsolete, so it is retired. Which of the following entries should Novak use to record the retirement of the equipment? Accumulated Depreciation - Equipment 40000 Loss on Disposal of Plant Assets 200000 Equipment 240000 Loss on Disposal of Plant Assets 200000 Accumulated Depreciation - Equipment 200000