ch8.6

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Exercise 8-17 (Algo) Disposal of assets LO P2 Diaz Company owns a machine that cost $126,000 and has accumulated depreciation of $94,700. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. 1. The machine needed extensive repoirs and was not worth repairing. Diaz disposed of the machine, recelving nothing in return. 2. Diaz sold the machine for $15,900 cash. 3. Diaz sold the machine for $31,300 cash. 4. Diaz soid the machine for $40,500 cash. Record the disposal of the machine receiving nothing in return. Record the sale of the machine for $15,900 cash. Record the sale of the machine for $31,300 cash. Record the sale of the machine for $40,500 cash. Note : = joumal entry has been entered