Exercise 10-16 Disposal of assets LO P2 Diaz Company owns a machine that cost $125,500 and has accumulated depreciation of $90,000. 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 $16,100 cash. 3. Diaz sold the machine for $35,500 cash 4. Diaz sold the machine for $40,200 cash View transaction list Journal entry worksheet