Which of the following is correct when land costing $19,000 is sold for $21,000 ? The land was a component of property and equipment on the balance sheet. Multiple Cholce Gain on sale of land is credited for $2,000. Revenues are debited for $21,000. Operating Income Increases $21,000. Cost of goods sold Is credited for $19,000. On December 31, 2014, Avery Corporation paid $16,000 for next year's insurance policy. This transaction should be recorded as follows by Avery: Multiple Cholce Option B Option C Option D Option A