Exercise 8-16 Disposal of assets LO P2 Diaz Company owns a machine that cost $125,900 and has accumulated depreciation of $95,000. 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, recelving nothing in return. 2. Dlaz sold the machine for $17.000 cash. 3. Diaz sold the machine for $30.900 cash. 4. Diaz sold the machine for $41,000 cash. View transaction list Journal entry worksheet 1 2 Record the disposal of the machine receiving nothing in return Note: Enter debits before credits General Journal Date Jan 01 Debit Credit