Diaz Company owns a machine that cost $$126,700$ and has accumulated depreciation of $$93,800.$ 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 $$16,200$ cash.

Diaz sold the machine for $$32,900$ cash.

Diaz sold the machine for $$41,500$ cash.

Journal entry worksheet

Record the disposal of the machine receiving nothing in return.

Note: Enter debits before credits.