21. On June 30, 2018, L&J Cafe sold equipment for $7,500 cash. The equipment was purchased on January 1, 2015 at a cost of $15,000 and had accumulated depreciation of S5,000 at the time of the sale. What was L&J's gain or loss on this sale? A. $2,500 loss B. $2,750 gain C. $5,000 loss D. $5,000 gain E. No gain or loss is recognized on the sale of the equipment