Renfro Industries sold asset on July 1, 2019 for $350,000. The asset was purchased on January 1, 2016 for $575,000 and had an estimated life of 5 years with no salvage value. The company uses Straight line dep. Which of the following will be included in the journal entry to record the sale of the asset?

A. Credit-Gain on disposal 120,000

B. Debit-accumulated Depreciation 345,000

C. Credit-gain on disposal 177,500

D. Credit-sales revenue 350,000