Hamilton, Inc. owned a building that was destroyed in a fire on August 1, 2019. The building had a cost of $400,000 and accumulated depreciation of $150,000 as of the date of the fire. The company received insurance proceeds of $450,000 for the building and used that money plus additional funds to purchase another building for $500,000. Which of the following would be included in the journal entries to record the above transactions? Debit - Building $100,000 Credit - Gain $200,000 Debit - Loss $250,000 Credit - Building $450,000 cu iry purchased equipment for $80,000 on April 1, 2016. It is estimated that the equipment will have a useful life of 10 years and a salvage value of $5,000 Compute depreciation expense in 2017 using double-declining balance method. The company is on a calendar year basis ending December 31. $13,600 $12,800 $12,000 $13,750