Diaz Company owns a machine that cost $126,400 and has accumulated depreciation of $93,500. 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 $16,700 cash.

3. Diaz sold the machine for $32,900 cash.

4. Diaz sold the machine for $41,700 cash.

1) Record the disposal of the machine receiving nothing in return.

2) Record the sale of the machine for $16,700 cash.

3) Record the sale of the machine for $32,900 cash.

4) Record the sale of the machine for $41,700 cash.