Kelly Petroleum Products Owns Fully Depreciated Furniture That Was Purchased

Kelly Petroleum Products owns fully depreciated furniture that was purchased for $26,500.The furniture had an estimated useful life of 8 years and an estimated residual value of $2,500.The furniture was sold for $2,700.Which of the following is the correct entry to record the transaction?

A) $$\begin{array} { | l | r | r | } \hline \text { Accumulated depreciation } & 26,500 & \\\hline \text { Cash } & 2,700 & \\\hline \text { Gain on sale } & & 2,700 \\\hline \text { Furniture } & & 26,500 \\\hline\end{array}$$
B) $$\begin{array} { | l | r | r | } \hline \text { Accumulated depreciation } & 24,000 & \\\hline \text { Cash } & 2,700 & \\\hline \text { Gain on sale } & & 200 \\\hline \text { Furniture } & & 26,500 \\\hline\end{array}$$
C) $$\begin{array} { | l | r | r | } \hline \text { Furniture } & 26,500 & \\\hline \text { Gain on sale } & 200 & \\\hline \text { Cash } & & 2,700 \\\hline \text { Accumulated depreciation } & & 24,000 \\\hline\end{array}$$
D) $$\begin{array} { | l | r | r | } \hline \text { Furniture } & 2,000 & \\\hline \text { Cash } & 2,700 & \\\hline \text { Loss on sale } & 19,300 & \\\hline \text { Accumulated depreciation } & & 24,000 \\\hline\end{array}$$