Diaz Company owns a machine that cost $$126,900$ and has accumulated depreciation of $$93,900.$ 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.

Diaz sold the machine for $$16,900$ cash.

Diaz sold the machine for $$33,000$ cash.

Diaz sold the machine for $$41,100$ cash.

Journal entry worksheet

$12304$

Record the disposal of the machine receiving nothing in return.

Note: Enter debits before credits.

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