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Equipment was acquired on January 1,2024 , for $29,000 with an estimated four-year life and...

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Accounting

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Equipment was acquired on January 1,2024 , for $29,000 with an estimated four-year life and $3,000 residual value. The company uses straight-line depreciation. Which of the following entries would be used to record the sale of the equipment for $10,400 on December 31,2026? Multiple Choice \begin{tabular}{|l|r|c|} \hline \multicolumn{1}{|c|}{ Account Title } & Debit & Credit \\ \hline Cash & $10,400 & \\ \hline Accumulated depreciation & $19,500 & \\ \hline Equipment & & $29,000 \\ \hline Gain & & $900 \\ \hline \end{tabular} \begin{tabular}{|l|c|c|} \hline \multicolumn{1}{|c|}{ Account Title } & Debit & Credit \\ \hline Cash & $10,400 & \\ \hline Accumulated depreciation & $13,000 & \\ \hline Loss & $5,600 & \\ \hline Equipment & & $29,000 \\ \hline \end{tabular}

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