Diaz Company owns a machine that cost $125,700 and has accumulated depreciation of $94,800. 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 $15,500 cash. Diaz sold the machine for $30,900 cash. Diaz sold the machine for $42,000 cash.

Record the sale of the machine for $15,500 cash.

Record the sale of the machine for $30,900 cash

Record the sale of the machine for $42,000 cash.