Question: uck costing $125000 was destroyed when its engine caught fire. At the date of the fire, the accumulated depreciation on the truck was $46000. An
uck costing $125000 was destroyed when its engine caught fire. At the date of the fire, the accumulated depreciation on the truck was $46000. An eived based on the replacement cost of the truck. The entry to record the insurance proceeds and the disposition of the truck will include a Gain on Disposal of $15000 credit to the Truck account of $79000. O credit to the Accumulated Depreciation account for $46000. O Gain on Disposal of $61000
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