ching assistants (TAs) are also available to help students with graded and ungraded quiz questions. Question 10 0.5 pts Banana Company paid $200,000 for a machine a few years ago. This year, the machine was completely destroyed in a fire. At the date of the fire, the accumulated depreciation on the machine was $80,000. An insurance check for $100,000 was received as a result of the fire. No journal entry for the casualty was recorded until Banana Company received the check from the insurance company. Banana Company's entry to record the insurance proceeds will include a gain on disposal of plant assets of $20,000. credit to the Accumulated Depreciation account for $80,000. credit to the Equipment account for $120,000. credit to the Cash account for $20,000. loss on disposal of plant assets of $20,000. Next > Previous