QUESTION 35 On July 1, 2015, Seligman Company purchased equipment for $144,000. Seligman uses straight-line depreciation and estimates a six-year useful life and a $24,000 salvage value. On December 31, 2018, the equipment is destroyed by fire. The equipment is not insured. The journal entry to record the equipment's destruction should reflect: OA. A $74,000 loss OB. A $50,000 loss OC. A $70,000 loss OD. A $24,000 loss