Diaz Company owns a machine that cost $250,000 and has accumulated depreciation of S182,000. Prepare Exercise 10-16 the entry to record the disposal of the machine on January 1 in each separate situation. Dispositions 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine. P2 receiving nothing in return. 2. Diaz sold the machine for $35,000 cash. 3. Diaz sold the machine for $68,000 cash. 4. Diaz sold the machine for $80,000 cash