Multiple Choice Question 163 Equipment costing $276000 was destroyed when it caught on fire. At the date of the fire, the accumulated depreciation on the equipment was $103000. An insurance check for $325000 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 credit to the Equipment account of $173000. gain on disposal of $49000. credit to the Accumulated Depreciation account for $103000. gain on disposal of $152000