QUESTION 31 equipment for $60,000 On January 1, 2015, Burns Company purchased equipment for $172,000. Burns uses straight-line depreciation and estimates an eight-year useful life and a $12,000 salvage value. On December 31, 2019, Burns sells the equipment for In recording this sale, Burns should reflect: A. No gain or loss OB. A $12,000 loss OC. A $6,000 loss OD. A $24,000 loss