Diaz Company owns a machine that cost $$125,900$ and has accumulated depreciation of $$93,500.$ 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 $$16,000$ cash.

Diaz sold the machine for $$32,400$ cash.

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

$1$ Record the disposal of the machine receiving nothing in return.

$2$ Record the sale of the machine for $$16,000$ cash.

$3$ Record the sale of the machine for $$32,400$ cash.

$4$ Record the sale of the machine for $$41,300$ cash.

Note : $=$ journal entry has been entered