Sally Co. has equipment that cost $125,000 and that has been depreciated $85,000. Instructions PREPARE THE JOURNAL ENTRIES REQUIRED FOR EACH OF THE FOLLOWING: (A) Accumulated Depreciation (a) It was scrapped as having no value. Equipment Gain/Loss on Equipment (b) It was sold for $55,000. (c) It was sold for $30,000. (B) CASH Accumulated Depreciation Equipment Gain/Loss on Equipment (C) CASH Accumulated Depreciation Equipment Gain/Loss on Equipment