Exercise 8-16 Disposal of assets LO P2 Diaz Company owns a machine that cost $126,400 and has accumulated depreciation of $93,900 Prepare the entry to record the disposal of the machine on January 1 in each seperate situation mts 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return 2. Diaz sold the machine for $16,700 cash 3. Diaz sold the machine for $32,500 cash, 4. Diaz sold the machine for $41,700 cash. eBock Hint View transaction list Prine Journal entry worksheet eferences 3 Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits Debit Date General Journal Credit Jan 01 Recond entry Clear entry View general journal 00 View transaction list Journal entry worksheet