On January 2, Bering Co. disposes of a machine costing $47100 with accumulated depreciation of $25,372. Prepare the entries to record the disposal under each separate situation. 1. The machine is sold for $18.223 cash. 2. The machine is traded in for a new machine having a $63,600 cash price. A $22.429 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 $63,600 cash price. A $16,822 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 $18,223 cash. View transaction list Journal entry worksheet Record the sale of the machine for $18,223 cash. Note: Enter debits before credits General Journal Debit Credit Date Jan 02