Diaz Company owns a machine that cost $126,900 and has accumulated depreciation of $90,500. 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 $17,200 cash. Diaz sold the machine for $36,400 cash. Diaz sold the machine for $41,700 cash.

Journal entry worksheet

• Record the disposal of the machine receiving nothing in return
• Record the sale of the machine for $17,200 cash.
• Record the sale of the machine for $36,400 cash.
• Record the sale of the machine for $41,700 cash.