Tomfoolery Ltd Enters into a Sale-And-Leaseback Arrangement for an Aircraft

Tomfoolery Ltd enters into a sale-and-leaseback arrangement for an aircraft it owns.The resulting lease is classified as a finance lease.The details are as follows:
$$\begin{array} { l r } \text { Carrying amount of asset } & \$ 50000 \\\text { Proceeds from sale of asset } & \$ 60000 \\\text { Annual lease payment amount } & \$ 8000\end{array}$$
According to AASB 117,Tomfoolery should make which of the following entries to record the sale:

A) $\begin{array} { l l l } \text { A) Dr Cash at bank } & \$ 60000 & \\\quad \text { Cr Aircraft } & & \$ 50000 \\\quad \text { Cr Deferred gain on sale } & \$ 10000 \\\text { Dr Aircraft under lease } & \$ 60000 & \\\text { Cr Lease liability } & & \$ 60000\end{array}$
B) B) Dr Aircraft
$\$ 60000$
$\begin{array} { l l } \mathrm { Cr } \text { Cash at bank } & \$ 50000 \\ \mathrm { Cr } \text { Deferred gain on sale } & \$ 10000 \end{array}$
C) $\begin{array} { c c c } \text { C) Dr Cash at bark } & \$ 60000 & \\\quad \text { Cr Aircraft } & & \$ 50000 \\\quad \text { Cr Gain on sale income } & & \$ 10000 \\\text { Dr Aircraft under lease } & \$ 60000 & \\\quad \text { Cr Lease liability } & & \$ 60000\end{array}$
D) $\text { No entry is required as Tomfoolery will still own the asset in an economic ser }$