On January 1,Year 1,a Company Sold a Piece of Equipment

On January 1,Year 1,a company sold a piece of equipment for $30,000 that it had used for several years.The equipment originally cost $45,000,and its accumulated depreciation amounted to $20,000 at the time of the sale.What are the net effects of selling the equipment on the accounting equation?

A) Assets and shareholders' equity increase by $30,000.
B) Assets decrease and shareholders' equity increases by $5,000.
C) Assets and shareholders' equity increase by $5,000.
D) Assets and shareholders' equity decrease by $5,000.