Exercise 8-17 (Algo) Disposal of assets LO P2 Diaz Company owns a machine that cost $126,900 and has accumulated depreciation of $91,100. 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, receiving nothing in return. 2. Diaz sold the machine for $16,400 cash. 3. Diaz sold the machine for $35,800 cash. 4. Diaz sold the machine for $40,700 cash. 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. Date January 01 General Journal Debit Credit Accumulated depreciation-Machine 91,100 Loss on disposal of machine 35,800 Machine 126,900 Record entry Clear entry View general journal