Exercise $8-17($Algo$)$ Disposal of assets LO P$2$

Diaz Company owns a machine that cost $$125,900$ and has accumulated depreciation of $$93,400.$ Prepare the entry to record the

disposal of the machine on January $1$ in each separate situation.

The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return.

Diaz sold the machine for $$17,400$ cash.

Diaz sold the machine for $$32,500$ cash.

Diaz sold the machine for $$41,800$ cash.

Journal entry worksheet

Note: Enter debits before credits.