Qu Brian Company has a machinery that costed $5,000, with a useful life of 5 years and a residual value of $1,000. Brian decided to dispose the machinery. Assume the company has already recorded depreciation expense for the last year ended December 31, 2020. Record the disposal assuming the asset is sold for $1,500. of Select one: a. Debit Loss on Disposal of Asset $500 and Equipment $5,000, Credit Cash $1,500 and Accumulated Depreciation $4,000. b. Debit Cash $1,500 and Equipment $4,000, Credit Accumulated Depreciation $5,000 and Gain on Disposal of Asset $500. c. Debit Loss on Disposal of Asset $500 and Accumulated Depreciation $5,000, Credit Cash $1,500 and Equipment $4,000 d. Debit Cash $1,500 and Accumulated Depreciation $4,000, Credit Equipment $5,000 and Gain on Disposal of Asset $500 O Type here to search 9 hp