Gaston owns equipment that cost $90,500 with accumulated depreciation of $61,000. Gaston sells the equipment for $26,000. Which of the following would not be part of the journal entry to record the disposal of the equipment?
A. Credit Gain on Disposal of Equipment $3,500.
B. Debit Loss on Disposal of Equipment $3,500.
C. Debit Accumulated Depreciation $61,000.
D. Debit Cash $26,000.
E. Credit Equipment $90,500.
Answer: A
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