Exercise 8-16 Disposal of assets LO P2 Dlaz Company owns a machine that cost $125,600 and has accumulated depreciation of $93,300. 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. Dlaz sold the machine for $15,900 cash. 3. Diaz sold the machine for $32,300 cash. 4. Dlaz sold the machine for $40,100 cash. View transaction list Journal entry worksheet 1 > Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits Debit Credit Date General Journal Jan 01 Accumulated depreciation Machine Loss on disposal of machine Machine 93,300 32,300 125,600 1. The machine needed extensive repairs and was not worth repairing Diaz disposed of the machine, receiving nothin 2. Diaz sold the machine for $15,900 cash. 3. Diaz sold the machine for $32,300 cash. 4. Diaz sold the machine for $40,100 cash. View transaction list Journal entry worksheet Record the sale of the machine for $15,900 cash. Note: Enter debits before credits Date Debit Credit Jan 01 General Journal Cash Accumulated depreciation-Machine ross on sale of machine Machine 93,300 125,600 Record entry Clear entry View general Journal Help 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 $15,900 cash. 3. Diaz sold the machine for $32,300 cash. 4. Diaz sold the machine for $40,100 cash. View transaction list Journal entry worksheet