Exercise 10-16 Disposal of assets LO P2 Diaz Company owns a milling machine that cost $126,200 and has accumulated depreciation of $90,300. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations. 1. The machine needed extensive repairs, and it was not worth repairing Diaz disposed of the machine, receiving nothing in return 2 Diaz sold the machine for $16,300 cash. 3. Diaz sold the machine for $35.900 cash. 4. Diaz sold the machine for $40,500 cash. View transaction list Journal entry worksheet