Alistair Corporation Sells 500 Shares of Common Stock Being Held

Alistair Corporation sells 500 shares of common stock being held as a short-term investment. The shares were acquired six months ago at a cost of $55 a share. Alistair sold the shares for $40 a share. The entry to record the sale is $\begin{array}{lr}\text { a. Cash}&20,000\\\quad\text { Loss on Sale of Stock Investments}&7,500\\\quad\text { Stock Investments}&&27,500\\\text {b. Cash }&27,500\\\quad\text { Gain on Sale of Stock Investments}&&7,500\\\quad\text {Stock Investments }&&20,000\\\text {c. Cash }&20,000\\\quad\text { Stock Investments}&&20,000\\\text { d. Stock Investments.}&20,000\\\quad\text { Loss on Sale of Stock Investments}&7,500\\\quad\text { Cash}&&27,000\\\end{array}$