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Diaz Company owns a machine that cost $126,600 and has accumulated depreciation of $90,200. Prepare the entry to record the disposal of the machine on
Diaz Company owns a machine that cost $126,600 and has accumulated depreciation of $90,200. 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 $36,400 cash. 4. Diaz sold the machine for $40,200 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 36,400 Loss on disposal of machine Accumulated depreciation Machine 90,200 Machine 126,600
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