Question: wer On July 1, 2010, a fire completely destroy the machine in the factory building Company purchased a machine that cost $360,000 on January 1,

wer On July 1, 2010, a fire completely destroy the machine in the factory building Company purchased a machine that cost $360,000 on January 1, 2017. It has estimated useful life of yours with no salvage value. Company use straightine method to calculate depreciation. An insurance softment of $250,000 was received for this casualty. What is the amount of Gain Loss to be recorded on Jy 1. 20197 A $0,375 Gain $2,875 Loss c 59,375 Loss $21,875 Gain B

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