Exercise 10-24A Recording plant asset disposals LO P2, P5 The following information applies to the questions displayed below.) On January 2, 2017 Bering Co. disposes of a machine costing $49,600 with accumulated depreciation of $26.719. Prepare the entries to record the disposal under each of the following separate assumptions Exercise 10-24A Part 2 2. The machine is traded in for a newer machine having a $66,100 cash price. A $23,619 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance, View transaction list Journal entry worksheet