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Equipment costing $262000 was destroyed when it caught on fire. At the date of the...

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Accounting

Equipment costing $262000 was destroyed when it caught on fire. At the date of the fire, the accumulated depreciation on the
equipment was $117000.An insurance check for $299000 was received based on the replacement cost of the equipment. Recording
the insurance proceeds and the disposition of the equipment will include a(n)
decrease to Equipment of $145000.
gain on disposal of $37000.
increase to Accumulated Depreciation for $117000.
gain on disposal of $154000.
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