Equipment Costing $50,000 with a Book Value of $16,000 Is

Equipment costing $50,000 with a book value of $16,000 is sold for $21,000. Which journal entry is used to record the sale?

A) debit Cash for $21,000 and credit Equipment for $21,000
B) debit Cash for $16,000, debit Accumulated Depreciation - Equipment for $34,000 and credit Equipment for $50,000
C) debit Cash for $21,000, debit Accumulated Depreciation - Equipment for $34,000, credit Equipment for $50,000 and credit Gain on Sale of Equipment for $5000
D) debit Cash for $16,000, debit Loss on Sale of Equipment for $5000 and credit Equipment for $21,000