Kelly Petroleum Products Owns Fully Depreciated Equipment That Was Purchased

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

A)
$$\begin{array} { | l | l | l | l | } \hline \text { Accumulated depreciation } & & 26,500 & \\\hline \text { Cash } & & 2,700 & \\\hline & \text { Gain on sale of equipment } & & 2,700 \\\hline & \text { Equipment } & & 26,500 \\\hline\end{array}$$
B)
$$\begin{array} { | l | l | l | l | } \hline \text { Accumulated depreciation } & & 24,000 & \\\hline \text { Cash } & & 2,700 & \\\hline & \text { Gain on sale of equipment } & & 200 \\\hline & \text { Equipment } & & 26,500 \\\hline\end{array}$$
C)
$$\begin{array} { | l | l | l | l | } \hline \text { Accumulated depreciation } & & 26,500 & \\\hline & \text { Cash } & & 2,700 \\\hline & \text { Equipment } & & 23,800 \\\hline\end{array}$$
D) None of the above