On July 1, 2021, Hale Kennels sells equipment for $220,000.The equipment originally cost $600,000, had an estimated 5-year life and an expected salvage value of $100,000.The Accumulated Depreciation account had

On July 1, 2021, Hale Kennels sells equipment for $220,000.The equipment originally cost $600,000, had an estimated 5-year life and an expected salvage value of $100,000.The Accumulated Depreciation account had a balance of $350,000 on January 1, 2021, using the straight-line method.The gain or loss on disposal is
A)$30,000 gain.
B)$20,000 loss.
C)$30,000 loss.
D)$20,000 gain.

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