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Diaz Company owns a machine that cost $125,200 and has accumulated depreciation of $92,100. Prepare the entry to record the disposal of the machine on
Diaz Company owns a machine that cost $125,200 and has accumulated depreciation of $92,100. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. 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 $15,600 cash. 3. Diaz sold the machine for $33,100 cash. 4. Diaz sold the machine for $40,600 cash. View transaction list View journal entry worksheet No Date General Journal 1 January 01 Accumulated depletion Loss on disposal of machine Machine 2 January 01 Cash Accumulated depreciation-Building Loss on sale of machine Machine 3 January 01 Cash Accumulated depreciation-Building Machine 4 January 01 Cash Accumulated depreciation-Machine Machine Gain on sale of machine
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