Gaston owns equipment that cost $31,000 with accumulated depreciation of $6200. Gaston sells the equipment for $22,300. Which of the following would not be part of the journal entry to record the disposal of the equipment?
A. Debit Loss on Disposal of Equipment $2500.
B. Debit Accumulated Depreciation $6200.
C. Credit Equipment $31,000.
D. Debit Cash $22,300.
E. Credit Gain on Disposal of Equipment $2500.
Answer: E
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