Principal of Accounting

Olivia Company sold equipment for $38,000. At that time, the equipment had a cost of $60,000 and accumulated depreciation of $21,000. Olivia Company's should record a: n O a. $2,000 gain on disposal. O b. $22,000 loss on disposal. O c. $1,000 loss on disposal. O d. $1,000 gain on disposal