Use This Information to Answer the Following Question $\begin{array}{llr} \text { Long-Term Investments } &38,000\\ \text { Cash} &&38,000\\\end{array}$

question 75

Multiple Choice

Use this information to answer the following question.These facts concern the long-term stock investments of Alpha Corporation: The entry to record the sale of 1,000 shares of Carey Corporation common stock is:

• A)\(\begin{array}{llr} \text { Long-Term Investments } &38,000\\ \text { Cash} &&38,000\\ \end{array}\)
• B)\(\begin{array}{l} \text { Long-Term Investments } &38,000\\ \text { Allowance to Adjust Long- Term Investments to Market }&&38,000 \end{array}\)
• C)\(\begin{array}{l} \text { Allowance to Adjust Long- Term Investments to Market } &38,000\\ \text {Cash }&&38,000 \end{array}\)
• D)\(\begin{array}{lr} \text { Cash } & 38,000 \\ \text { Loss on Sale of Investments } & 2,000 \\ \text { Long-Term Investments } &&40,000 \end{array}\)