Diaz Company owns a machine that cost $$125,300$ and has accumulated depreciation of $$94,100.$ Prepare the entry to record the disposal of the machine on January $1$ in each separate situation.

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 $$16,600$ cash.

Diaz sold the machine for $$31,200$ cash.

Diaz sold the machine for $$41,300$ cash.

Journal entry worksheet

$1$

$2$

$3$

$4$

Record the disposal of the machine receiving nothing in return.

Note: Enter debits before credits.