Exercise 8-16 Disposal of assets LO P2 Diaz Company owns a machine that cost $250,000 and has accumulated depreciation of $182.000. 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, receiving nothing in return 2. Diaz sold the machine for $35.000 cash. 3. Diaz sold the machine for $68,000 cash. 4. Diaz sold the machine for $80.000 cash. 40 View transaction list Journal entry worksheet 1 2 3 > 4 Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits. General Journal Dobit Credit Dato Jan 01 Rocord entry Clear entry View general journal Exercise 8-16 Disposal of assets LO P2 Diaz Company owns a machine that cost $250,000 and has accumulated depreciation of $182,000. 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, receiving nothing in return 2. Diaz sold the machine for $35,000 cash. 3. Diaz sold the machine for $68,000 cash. 4. Diaz sold the machine for $80,000 cash View transaction list Journal entry worksheet 1 4 Record the sale of the machine for $35,000 cash Note: Enter debits before credits Credit Debit General Journal Date Jan 01 Record entry Clear entry View general Journal Help Save & Exit Submit Exercise 8-16 Disposal of assets LO P2 2 Diaz Company owns a machine that cost $250,000 and has accumulated depreciation of 5182,000. 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, receiving nothing in return 2. Diaz sold the machine for $35.000 cash 3. Diaz sold the machine for $68,000 cash. 4. Diaz sold the machine for $80.000 cash 012522 View transaction list Journal entry worksheet 11 2 3 4 > Record the sale of the machine for $68,000 cash. Note: Enter debts before credits General Journal Debit Date Jan 01 Record entry Clear entry View general journal MS Pro Nay az sold the machine for $80,000 cash. jew transaction list Journal entry worksheet