Equipment was sold for $3,000. What is the journal entry to record the sale if the equipment had a cost of $45,000 and accumulated depreciation of $44,000?   a) Cash 3,000     Accumulated depreciation 44,000        Equipment   45,000      Gain on sale of equipment   2,000   b) Cash 3,000        Equipment   1,000      Gain on sale of equipment   2,000   c) Cash 3,000     Loss on sale of equipment 42,000        Equipment   45,000   d) Accumulated depreciation 44,000     Loss on sale of equipment 1,000        Equipment   45,000

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