Diaz Company owns a machine that cost $$125,500$ and has accumulated depreciation of $$92,900.$ 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 $$16,700$ cash.

Diaz sold the machine for $$32,600$ cash.

Diaz sold the machine for $$41,900$ cash.

Journal entry worksheet

$1$

$2$

$3$

$4$

Record the disposal of the machine receiving nothing in return.

Note: Enter debits before credits.

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