Diaz Company owns a machine that cost $126,100 and has accumulated depreciation of $92,300. 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 $16,000 cash. 3. Diaz sold the machine for $33,800 cash. 4. Diaz sold the machine for $41,700 cash.

Exercise 8-17 (Algo) Disposal of assets LO P2 Diaz Company owns a machine that cost $126,100 and has accumulated depreciation of $92,300. 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 $16,000 cash. 3. Diaz sold the machine for $33,800 cash. 4. Diaz sold the machine for $41,700 cash. View transaction list Journal entry worksheet 1 2 3 4 > Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01