Taya Ltd$.$ purchased equipment in February $2023$ for $$200,000.$ At the time of purchase it was estimated that the equipment would have a useful life of four years with no residual value. In September $2025,$ the equipment was destroyed in a flood. In February $2026,$ Taya Ltd$.$ received an insurance settlement of $$101,500.$ The company depreciates all equipment on a straight$-$line basis. Its policy is to record a full month of depreciation in all months that assets are available for use.

Required:

Prepare the journal entry to record the derecognition of the asset.