Exercise 10-16 Disposal of assets LO P2 Diaz Company owns a machine that cost $127,000 and has accumulated depreciation of $92,500. 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 $16,600 cash. 3. Diaz sold the machine for $34,500 cash. 4. Diaz sold the machine for $41,600 cash. View transaction list Journal entry worksheet > 1 2 3 4 Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits. Date Jan 01 General Journal Debit Credit Record entry Clear entry View general journal