Carlin Corporation Sells 400 Ordinary Shares Being Held as a Short-Term

Carlin Corporation sells 400 ordinary shares being held as a short-term investment. The shares were acquired six months ago at a cost of $\$ 50$ a share. Carlin sold the shares for $\$ 40$ a share. The entry to record the sale is

A) $\begin{array} { l } \text { Cash }&16,000 \\ \text {Loss on Sale of Share Investments. }&4,000 \\ \text {Share Investments }&&20,000 \\\end{array}$

B) $\begin{array} { l }\text { Cash }&20,000 \\ \text {Gain on Sale of Stock Investments }&&4,000 \\ \text { Share Investments}&&16,000 \\\end{array}$

C) $\begin{array} { l } \text { Cash }&16,000 \\ \text {Share Investments }&&16,000 \\\end{array}$

D) $\begin{array} { l } \text { Share Investments.}&16,000 \\ \text {Loss on Sale of Share Investments. }& 4,000\\ \text { Cash}&&20,000 \\\end{array}$