Diaz Company owns a machine that cost $125,300 and has accumulated depreciation of $94,000. 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 $15,500 cash. 3. Diaz sold the machine for $31,300 cash. 4. Diaz sold the machine for $42,000 cash. Answer is not complete. No 1 Date January 01 General Journal Debit Credit Accumulated depreciation-Machine 94,000 Loss on disposal of machine 31,900 Machine 125,300 2 January 01 Cash 15,500 Accumulated depreciation-Machine 94,000 Loss on disposal of machine 15,800 Machine 125,300 3 January 01 Cash 31,300 Accumulated depreciation-Machine Machine 94,000 125,300 4 January 01 Cash 42,000 Accumulated depreciation-Machine 94,000 Gain on disposal of machine 0 Machine 125,300