Multiple Choice Question 157 On July 1, 2017, Crane Company sells equipment for $111000. The equipment originally cost $310000, had an estimated 5-year life and an expected salvage value of $50000. The Accumulated Depreciation account had a balance of $182000 on January 1, 2017, using the straight-line method. The gain or loss on disposal is $17000 loss. $9000 gain. $17000 gain. $9000 loss.