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Business, 22.07.2021 18:20 AutumnJoy12

Equipment costing $b0000 was destroyed when it caught on fire. At the date of the fire, the accumulated depreciation on the equipment was $100000. An insurance check for $300000 was received based on the replacement cost of the equipment. The entry to record the insurance proceeds and the disposition of the equipment will include a a. credit to the Equipment account of $160000.
b. credit to the Accumulated Depreciation account for $100000.
c. gain on disposal of $140000.
d. gain on disposal of $40000.

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Equipment costing $b0000 was destroyed when it caught on fire. At the date of the fire, the accumula...

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