On December 31, Strike Company has decided to discard one of its batting cages. The initial cost of the equipment was $219,818.00 with an accumulated depreciation of $197,836.20. Depreciation has been taken up to the end of the year. The following will be included in the entry to record the disposal.

Select the correct answer.

Equipment Cr. $219,818.00

Loss on Disposal of Asset Dr. $197,836.20

Accumulated Depreciation Dr. $219,818.00

Gain on Disposal of Asset Cr. $21,981.80