Diaz Company owns a machine that cost $125,400 and has accumulated depreciation of $94,600. Prepare the entry to record the disposal of the machine on January 1 in each seperate 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 $30,800 cash. 4. Diaz sold the machine for $40,800 cash. View transaction list View journal entry worksheet No Date Credit Debit 94,600 1 Jan 01 General Journal Accumulated depreciationMachine Loss on disposal of machine Machine 30,800 125,400 ^ 2 Jan 01 Cash 15,500 94,600 Accumulated depreciation-Machine Loss on sale of machine Machine 125,400 3 Jan 01 Cash 30,800 94,600 Accumulated depreciation Machine Machine 125,400 4 Jan 01 Cash 40,800 94,600 Accumulated depreciation Machine Machine 125,400 Montana Mining Co. pays $3,722,790 for an ore deposit containing 1,426,000 tons. The company installs machinery in the mine costing $160,600, which will be abandoned when the ore is completely mined. Montana mines and sells 162,900 tons of ore during the year. Prepare the year-end entries to record both the ore deposit depletion and the mining machinery depreciation. Mining machinery depreciation should be in proportion to the mine's depletion. (Do not round intermediate calculations. Round your final answers to the nearest whole number.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 Dec 31 Depletion expenseMineral deposit Accumulated depletionMineral deposit 2 Dec 31 Depreciation expenseMachinery Accumulated depreciationMachinery