Exercise 10-16 Disposal of assets LO P2 Diaz Company owns a machine that cost $126,600 and has accumulated depreciation of $93,600. 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 $17,100 cash. 3. Diaz sold the machine for $33,000 cash. 4. Dlaz sold the machine for $40,500 cash. View transaction list Journal entry worksheet 1 2 3 Record the disposal of the machine receiving nothing in retum. Note: Enter debits before credits Debit Credit General Joumal Jan 01