QUESTION 5 Reflex Corp purchased equipment on June 30, 2009 for S50,000. It had an estimated useful life of 10 years and an estimated salvage value of S12,000. On January 1, 2017, it was sold for S24,000. Reflex uses the straight line method of depreciating its assets. The journal entry to record the disposal of this asset would include: On January 1, 2017,it was sold for A. A debit to Gain for $2,500 5. A debit to Accumulated Depreciation for S28,500 OC "A credit to Equipment for S2 1,500 D. A credit to Gain for S4,400 OE. A debit to Loss for S2-500