In 2014, Ayayai Corp. has plant equipment that originally cost $105000

In 2014, Ayayai Corp. has plant equipment that originally cost $105000 and has accumulated depreciation of $40000. A new processing technique has rendered the equipment obsolete, so it is retired. Which of the following entries should Ayayai use to record the retirement of the equipment?Accumulated Depreciation – Equipment40000Loss on Disposal of Plant Assets65000Equipment105000Loss on Disposal of Plant Assets65000Accumulated Depreciation – Equipment65000Plant Equipment105000Accumulated Depreciation – Equipment40000Loss on Disposal of Plant Assets65000Loss on Disposal of Plant Assets65000Equipment65000

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