Sunland Company purchased equipment on January 1, 2017 for $72000. The estimated useful life of the equipment is 5 years, the salvage value is $10000, and the company uses the double-declining balance method to depreciate fixed assets. Which of the following journal entries would Sunland record if the equipment is scrapped after five years? Equipment 72000 Gain on Disposal of Plant Asset Accumulated Depreciation 10000 62000 Equipment Accumulated Depreciation-Equipment 72000 Equipment 72000 Accumulated Depreciation-Equipment 62000 Loss on Disposal of Plant Asset Equipment 10000 72000 Depreciation Expense 62000 10000 Loss on Disposal of Plant Asset Equipment 72000