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Westbrook Financial Services, Inc. invested $24,000 to acquire 5,000 shares of Cloud Investments, Inc. on March 15. This investment represents less than 20% of the

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Westbrook Financial Services, Inc. invested $24,000 to acquire 5,000 shares of Cloud Investments, Inc. on March 15. This investment represents less than 20% of the Investee's voting stock On May 7, Westbrook Financial Services, Inc. sells 1,750 shares for $15,250. Which of the following will be the correct journal entry for the May 7 transaction? (Round any intermediate calculations and the final answer to two decimal places) 15.250 O A. Cash Equity Investments Gain on Disposal 8.400 6,850 15,250 OB Cash Equity Investments 15,250 15.250 OC Cash Gain on Disposal 15,250 15,250 OD. Loss on Disposal Equity Investments 15,250

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