Diaz Company owns a machine that cost $$126,700$ and has accumulated depreciation of $$91,000.$ 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 $$17,300$ cash.

Diaz sold the machine for $$35,700$ cash.

Diaz sold the machine for $$40,900$ cash.

Journal entry worksheet

$1$

$2$

$3$

$4$

Record the disposal of the machine receiving nothing in return.

Note: Enter debit's before credits.