Exercise 8-17 (Algo) Disposal of assets LO P2 Diaz Company owns a machine that cost $126,800 and has accumulated depreciation of $93,500. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, recelving nothing in return. 2. Dlaz sold the machine for $17,200 cash. 3. Diaz sold the machine for $33,300cash. 4 . Diaz sold the machine for $40,000cash