On January 4. Year 1, Barber Company purchased 12,500 shares of Convell Company for $150,000 plus a broker's fee of $4,000. Convell Company has a total of 62,500 shares of common stock outstanding and it is presumed the Barber Company will have a significant influence over Convell. During each of the next two years, Convell declared and paid cash dividends of $0.75 per share, and its net income was $117,000 and $112,000 for Year1 and Year 2, respectively. The January 12, Year 3, entry to record Barber's sale of 7,500 shares of Convell Company stock, which represents 60% of Barber's total investment, for $101,250 cash should be: Multiple Choice Debit Cash $101.250; debit Loss on Sale of Investment $52750; credit Long-Term Investments $154,000. Debit Cash $101.250; debit Loss on Sale of Investment $7,380; credit Long-Term Investments $108,630. Debit Cash $101.250; debit Loss on Sale of Investment $18,750; credit Long-Term Investments $120,000. Debit Cash $101.250; credit Gain on Sale of Investment $8,850; credit Long-Term Investments $92400 Debit Cash $101,250; credit Galn on Sale of Investment $18,750: credit Long-Term Investments $82,500