Diaz Company owns a machine that cost $$125,700$ and has accumulated depreciation of $$92,000.$ Prepare the entry to record the disposal of the machine on January $1$ in each separate situation. Journal entry worksheet

$1.$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 $$16,400$ cash.

$3.$Diaz sold the machine for $$33,700$ cash.

$4.$Diaz sold the machine for $$40,500$ cash.