Middlebrook Financial Services,Inc B) $$\begin{array} { |l | r | r | } \hline \text { Cash } & 21,250 & \\\hline \text { Gain on Disposal } & & 21,250 \\\hline\end{array}$$

Middlebrook Financial Services,Inc.invested $30,000 to acquire 6,250 shares of Mitt Investments,Inc.on March 15,2013.This investment represents less than 20% of the investee's voting stock.On May 7,2017,Middlebrook Financial Services,Inc.sells 2,000 shares for $21,250.Which of the following will be the correct journal entry for the May 1,2017 transaction?

A) $$\begin{array} { |l | r | r | } \hline \text { Gain on Disposal } & 21,250 & \\\hline \text { Long-term Investments-Available-for-Sale } & & 21,250 \\\hline\end{array}$$
B) $$\begin{array} { |l | r | r | } \hline \text { Cash } & 21,250 & \\\hline \text { Gain on Disposal } & & 21,250 \\\hline\end{array}$$
C) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 21,250 & \\\hline \text { Long-term Investments-Available-for-Sale } & & 9,600 \\\hline \text { Gain on Disposal } & & 11,650 \\\hline\end{array}$$
D) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 21,250 & \\\hline \text { Long-term Investments-Available-for-Sale } & & 21,250 \\\hline\end{array}$$