When a company sells equipment for cash on a date other than the last day of the accounting period, it must record:

Multiple Choice

A$)$ Accumulated depreciation for the entire current accounting period.

B$)$ The disposal by decreasing equipment and increasing revenue; a gain or loss is reported if the decrease and increase are not equal.

C$)$ Depreciation expense for the entire accounting period during which the equipment is sold.

D$)$ The disposal by decreasing both equipment and accumulated depreciation while increasing cash; a gain is reported if total assets increase.