Exercise 8-16 Disposal of assets LO P2 Dlaz Company owns a machine that cost $126,000 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. Diaz sold the machine for $17,500 cash 3. Diaz sold the machine for $32,700 cash, 4. Dlaz sold the machine for $41,500 cash, View transaction list Journal entry worksheet Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal Journal entry worksheet Record the sale of the machine for $17,500 cash. Note: Enter debits before credits. General Journal Debit Credit Date Jan 01 Record entry Clear entry View general journal Journal entry worksheet Record the sale of the machine for $32,700 cash. Note: Enter debits before credits. General Journal Debit Credit Date Jan 01 Record entry Clear entry View general journal Journal entry worksheet Record the sale of the machine for $41,500 cash. Note: Enter debits before credits General Journal Debit Credit Date Jan 01 Record entry Clear entry View general journal