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iaz Company owns a milling machine that cost $125,400 and has accumulated depreciation of $93,000. Prepare the entry to record the disposal of the milling
iaz Company owns a milling machine that cost $125,400 and has accumulated depreciation of $93,000. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations.
- The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return.
- Diaz sold the machine for $17,300 cash.
- Diaz sold the machine for $32,400 cash.
- Diaz sold the machine for $40,400 cash
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