Exercise 8-17 (Algo) Disposal of assets LO P2 Diaz Company owns a machine that cost $126,200 and has accumulated depreclation of $91,300. Prepare the entry to record the disposal of the machine on January 1 In each separate situation. 1. The machine needed extensive repalrs and was not worth repairing. Dlaz disposed of the machine, recelving nothing in return. 2. Diaz sold the machine for $16,900 cash. 3. Diaz sold the machine for $34,900 cash. 4. Diaz sold the machine for $40,000 cash. Journal entry worksheet 4 Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits