Question 31 (11 points) a. On December 15, 2020, land that was being held by QED Corp. mainly as an investment was expropriated by the city. The cost of the land was $20,000. The city paid QED Corp. $15,500. Prepare the journal entry for QED Corp. on the date of the disposition. b. On December 27, 2020, a warehouse that was held by QED Corp. was destroyed by fire. The warehouse had been purchased on January 2, 2017 for $35,000, and accumulated depreciation of $8,000 had been properly recorded to the date of the fire. On December 27, 2020, insurance proceeds of $37,000 was received. Prepare the journal entry for QED Corp. on the date of the disposition. c. On May 31, 2020, QED Corp. contributed furniture to a registered charitable organization. The cost of the furniture was $5,000, and $3,925 in accumulated depreciation had been properly recorded to the date of the contribution. The fair market value of the furniture on the date of the contribution was $1,550. No other contributions were made or pledged during the year. Prepare the journal entry for QED Corp. on the date of the disposition