The Entry to Record the Sale of Equipment Costing $40,000,with

The entry to record the sale of equipment costing $40,000,with accumulated depreciation of $34,000 and sale price of $8,800,is:

A)
$$\begin{array} { l c c } \text { Cash } & 8,800 \\\text { Accumulated Depreciation- Equipment } & 34,000 & \\\quad \text { Equipment } & & 40,000\end{array}$$
B)
$$\begin{array} { l c c } \text { Accumulated Depreciation - Equipment } & 34,000 & \\\text { Equipment } && 25,200 \\\text { Gain on Sale of Equipment } && 8,800\end{array}$$
C)
$$\begin{array} { l r } \text { Accumulated Depreciation- Equipment } & 8,800 \\\text { Loss on Sale of Equipment } & 31,200 \\\quad \text { Equipment } &&40,000\end{array}$$
D)
$$\begin{array} { l l l } \text { Accumulated Depreciation- Equipment } & 14,800 & \\\text { Loss on Sale of Equipment } & 25,200 & \\\text { Equipment } & & 40,000\end{array}$$