D Question 24 2 pts A company had equipment destroyed by a tornado. The equipment cost $175,000, and accumulated depreciation as of the date of the flood was $85,000. The company received $60,000 cash from an insurance policy. Which of the following are the journal entries to recognize the transaction? $60,000 Cash Debit: $175,000 Equipment Debit: $85,000 Accumulated Depreciation Debit: $30,000 Loss Debit. $60,000 Cash Debit; $175,000 Equipment Credit; $85,000 Accumulated Depreciation Debit; $30,000 Gain Debit. $60,000 Cash Credit: $175,000 Equipment Debit: $85,000 Accumulated Depreciation Credit: $30,000 Loss Credit $60,000 Cash Debit; $175,000 Equipment Credit: $85,000 Accumulated Depreciation Debit; $30,000 Loss Debit. None of these answers are correct