View previous attempt An asset acquired January 1, 2018, for $15,200 with an estimated 10-year life and no residual value is being depreciated in an equipment group asset account that has an average service life of eight years. The asset is sold on December 31, 2019, for $5,400. The entry to record the sale would be: Multiple Choice 5, 400 Cash Equipment 3,40 5,400 5, 400 Cash Accumulated depreciation Loss on sale of equipment Equipment 5,400 3,800 6,000 15, 200 Cash Loss on sale of equipment Equipment 5, 400 9,800 15, 200 Cash Accumulated depreciation Equipment 5, 400 9,800 15, 200