Exercise 10-16 Disposal of assets LO P2 Diaz Company owns a machine that cost $126,500 and has accumulated depreciation of $90,500. Prepare the entry to tecord the disposal of the machine on January 1 in each seperate situation. 1. The machine needed extensive repairs and was not worth repalring. Dlaz disposed of the machine, receiving nothinq in return. 2. Diaz sold the machine for $17,200 cash. 3. Dlaz sold the machine for $36,000 cash. 4. Diaz sold the machine for $41,800 cash