Exercise 8-16 Disposal of assets LO P2 Diaz Company owns a machine that cost $125,900 and has accumulated depreciation of $94,000. Prepare the entry to recor 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, receiving nothing in retu 2. Diaz sold the machine for $16,300 cash. 3. Diaz sold the machine for $31,900 cash. 4. Dlaz sold the machine for $41,300 cash. View transaction list Journal entry worksheet