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

$5\mathrm{.}56$

points

Diaz Company owns a machine that cost $$126,600$ and has accumulated depreciation of $$94,000.$ 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 $$32,600$ cash.

Diaz sold the machine for $$40,700$ cash.

Journal entry

worksheet

Record the disposal of the machine receiving nothing in return.

Note: Enter debits before credits.