Help Save & Exit On January 2, Bering Co. disposes of a machine costing $47,600 with accumulated depreciation of $25,642. Prepare the entries to record the disposal under each separate situation. 1. The machine is sold for $18.416 cash. 2. The machine is traded in for a new machine having a $64100 cash price. A $22,666 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance 3. The machine is traded in for a new machine having a $64,100 cash price. A $17,000 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 The machine is sold for $16,416 cash. View transaction list Journal entry worksheet 1 Record the sale of the machine for $16,416 cash. Note: Enter debits before credits General Journal Debit Credit Jan 02 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 The machine is traded in for a new machine having a $64,100 cash price. A $22,666 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance. View transaction list Journal entry worksheet