A Truck Costing $132,000 Was Destroyed When Its Engine Caught

A truck costing $132,000 was destroyed when its engine caught fire.At the date of the fire, the accumulated depreciation on the truck was $60,000.An insurance check for $150,000 was received based on the replacement cost of the truck.The entry to record the insurance proceeds and the disposition of the truck will include a

A) Gain on Disposal of $18,000.
B) credit to the Truck account of $72,000.
C) credit to the Accumulated Depreciation account for $60,000.
D) Gain on Disposal of $78,000.