A. debit Cash for $26,000, debit Accumulated Depreciation - Equipment for $31,000, credit Equipment for $50,000 and credit Gain on Sale of Equipment for $7,000 B. debit Cash for $19,000, debit Loss on Sale of Equipment for $7,000 and credit Equipment for $26,000 C. debit Cash for $19,000, debit Accumulated Depreciation - Equipment for $31,000 and credit Equipment for $50,000 D. debit Cash for $26,000 and credit Equipment for $26,000 Equipment costing $50,000 with a book value of $19,000 is sold for $26,000. Which journal entry is used to record the sales A. debit Cash for $26,000, dit Accumulated Depreciation - Equipment for $31,000, credit Equipment for $50,000 and credit Gain on Sale of Equipment for $7,000 B. debit Cash for $19,000, debit Loss on Sale of Equipment for $7,000 and credit Equipment for $26,000 C. debit Cash for $19,000, debit Accumulated Depreciation - Equipment for $31,000 and credit Equipment for $50,000 D. debit Cash for $26,000 and credit Equipment for $26,000