A truck costing $32,000 was destroyed in a flood. At the time of the flood, the accumulated depreciation on the truck was $16,000. An insurance cheque for $37,000 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 credit to gain on disposal of $21,000. credit to the Truck account for $16,000. credit to the Accumulated Depreciation account for $16,000. debit to gain on disposal of $37,000. None of the above.