QUESTION 11 On January 1, 2020, Torch Security Service purchased an alarm monitoring system for $110,000. The system is expected to be used for 5 years, after which it can be sold for $20,000. year of Assume that Torch uses the straight-line method to depreciate the equipment and sells it for $25,000 at the end of its 4th use, i.e., at the end of 2023, the journal entry to record the sale will include all of the following except a $25,000 debit to Cash $5,000 credit to Gain on Sale of Equipment $13,000 debit to Loss on Sale of Equipment $72,000 debit to Accumulated Depreciation