A company owns a machine that cost $126,500 and has accumulated depreciation of $90,400. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. 1. The machine needed extensive repairs and was not worth repairing. The company disposed of the machine, receiving nothing in return. 2. The company sold the machine for $16,600 cash. 3. The company sold the machine for $36,100 cash. 4. The company sold the machine for $40,100 cash. Journal entry worksheet