Yeloe Corporation Sells 400 Shares of Common Stock Being Held $\quad$

Yeloe Corporation sells 400 shares of common stock being held as an investment. The shares were acquired six months ago at a cost of $60 a share. Yeloe sold the shares for $40 a share. The entry to record the sale is a. Cash $\quad$$\quad$ 16,000
$\quad$ Loss on Sale of Stock Investments $\quad$$\quad$ 8,000
$\quad$ Stock Investments $\quad$$\quad$ 24,000
b. Cash $\quad$$\quad$ 24,000
$\quad$ Gain on Sale of Stock Investments $\quad$$\quad$ 8,000
$\quad$ Stock Investments $\quad$$\quad$ 16,000
c. Cash $\quad$$\quad$ 16,000
$\quad$ Stock Investments $\quad$$\quad$ 6,000
d. Stock Investments $\quad$$\quad$ 16,000
$\quad$ Loss on Sale of Stock Investments $\quad$$\quad$ 8,000
$\quad$ Cash $\quad$$\quad$ 24,000