with solution please

Question 45 2 pts On July 1, 2021. Mighty, Inc. sells equipment for P44,000. The equipment originally cost P120,000, had an estimated 5-year life and an expected salvage value of P20,000. The accumulated depreciation account had a balance of P70,000 on January 1, 2021, using the straight-line method. The gain or loss on disposal is O P4,000 gain, O P4,000 loss, O P6,000 gain. O P6,000 loss