Diaz Company owns a machine that cost $127,000 and has accumulated depreciation of $94,500. 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 $15,500 cash. 3. Diaz sold the machine for $32,500 cash. 4. Diaz sold the machine for $40,900 cash.