17 Exercise 10-16 Disposal of assets LO P2 eBook Hint Print 5.88 points Diaz Company owns a machine that cost $125,700 and has accumulated depreciation of $92,700. Prepare the entry to record the disposal of the machine on January 1 in each seperate situation. 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $17,000 cash. 3. Diaz sold the machine for $33,000 cash. 4. Diaz sold the machine for $41,000 cash. References View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 Jan 011 Loss on disposal of machine Accumulated depreciation-Machine Machine ME 2 Jan 01 3 Jan 011 Accumulated depreciation-Machine Cash Loss on sale of machine Machine Accumulated depreciation-Machine Cash Machine