Equipment costing $292000 was destroyed when it caught on fire. At the date of the fire, the accumulated depreciation on the equipment was $111000. An insurance check for $323000 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 O credit to the Accumulated Depreciation account for $111000. O gain on disposal of $31000. o credit to the Equipment account of $181000. gain on disposal of $142000