On January 2 2022 Niceville Corporation Sold Equipment for $40000

Multiple Choice

On January 2 2022 Niceville Corporation sold equipment for $40000 cash.The equipment had an original cost of $150000 and accumulated depreciation of $90000.Use the following tabular analysis to record the sale.

A) Increase Cash $40000 decrease Equipment $150000 decrease Accumulated Depreciation $90000 and increase Revenues $20000.
B) Increase Cash $40000 decrease Equipment $60000 and decrease Revenues $20000.
C) Increase Cash $40000 increase expenses (loss) $20000 decrease Equipment $150000 and decrease Accumulated Depreciation $90000.
D) Increase Cash and decrease Equipment $40000.