Question 5 View Policies Current Attempt in Progress Equipment costing $288000 was destroyed when it caught on fire. At the date of the fire, the accumulated depreciation on the equipment was $111500. An insurance check for $306000 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 account of $176500. gain on disposal of $129500. gain on disposal of $180. increase to Accumulated Depreciation account for $111500. Question 6 View Policies Current Attempt in Progress A plant asset was purchased on January 1 for $56500 with an estimated salvage value of $10000 at the end of its useful life. The current year's depreciation expense is $3100 calculated on the straight-line basis and the balance of the Accumulated Depreciation account at the end of the year is $18600. The remaining useful life of the plant asset is 6 years. 15 years. 18 years. 9 years