Question 9 Nor yet and Marked out of 6.00 Equipment costing Bennett Corporation $60,000 was destroyed by a tornado on January 1, 2021. The equipment, which had been depreciated through December 31, 2020, had accumulated depreciation of $30,500. The equipment was insured and Bennett expects to receive $15,000 from the insurance to settle the loss claim. Prepare the general journal entry to record the fire loss on January 1, 2021. 1 A BIU- | 10