QUESTION 6 10 points Save Answer Marks Consulting purchased equipment costing $45,000 on January 1, Year 1. The equipment is estimated to have a salvage value of $5,000 and an estimated useful life of 8 years. Straight-line depreciation is used. If the equipment is sold on July 1, Year 5 for $20,000, the journal entry to record the sale will include a: (assume transaction has economic substance) A. Debit to Equipment for $45,000 B. Credit Gain on Sale for $10,000 C. Debit Loss on Sale of Equipment for $10,000 D. Debit to Cash for $20,000 E. Debit to Salvage value for $5,00