html ent Exercise 8-16 Disposal of assets LO P2 Diaz Company owns a milling machine that cost $125,200 and has accumulated depreciation of $94,100. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations 1. The machine needed extensive repairs, and it 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 $31,100 cash. 4. Diaz sold the machine for $40,600 cash. No Date General Journal Debit Credit 31,.100 94 100 Milling machine 17 600 107700 Jan 03 Next