A) Cheng Company has recently decided to accept a proposal from the City of Bel Aire that publicly owned property with a large warehouse located on it will be donated to Cheng if Cheng will build a branch plant in Bel Aire. The appraised value of the property is $500,000 and of the warehouse building is $1,000,000. Prepare the journal entry by Cheng for the receipt of the properties. B) Wilson Automotive received an insurance claim of $450,000 for fire damage in its property on July 15. The assets destroyed were two specialized equipment with total book value of $290,000 (original cost of $750,000 and accumulated depreciation of $460,000). Prepare the journal entry that Wilson Automotive should make for the receipt of the insurance claim and record disposition of property