On January 2, Bering Co. disposes of a machine costing $51.900 with accumulated depreciation of S27.958. Prepare the entries to record the disposal under each separate situation 1. The machine is sold for $20,080 cash, 2. The machine is traded in for a new machine having a $68,400 cash price A $24.714 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 $68.400 cash price. A $18,536 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 $20,080 cash. View transaction list Journal entry worksheet Record the sale of the machine for $20,080 cash. Note: Enter debits before credits. General Journal Debit Credit Jan 02 LE Record entry Clear entry View general journal On January 2. Bering Co. disposes of a machine costing $51.900 with accumulated depreciation of $27.958. Prepare the entries to record the disposal under each separate situation. 1. The machine is sold for $20,080 cash 2. The machine is traded in for a new machine having a $68,400 cash price. A $24.714 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 $68.400 cash price. A $18,536 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 traded in for a new machine having a $68,400 cash price. A $24.714 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 Record the exchange assuming that the exchange has commercial substance. Note: Enter debits before credits. General Journal Debit Credit Date Jan 02 On January 2, Bering Co. disposes of a machine costing $51.900 with accumulated depreciation of $27,958. Prepare the entries to record the disposal under each separate situation. 1. The machine is sold for $20,080 cash. 2. The machine is traded in for a new machine having a $68,400 cash price. A $24,714 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 $68,400 cash price. A $18,536 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 traded in for a new machine having a $68,400 cash price. A $18,536 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 Record the exchange assuming that the exchange has commercial substance. Note: Enter debits before credits. General Journal Debit Credit Jan 02