Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.] On April 1, 2016, Cyclone's Backhoe Co. purchases a trencher for $306,000. The machine is expected to last five years and have a salvage value of $53,000 Exercise 10-11 Straight-line, partial-year depreciation LO C2 Compute depreciation expense for both years ending December 2016 and 2017 assuming the company uses the straight-line method. Choose Numerator: Choose Denominator: -Annual Depreciation Annual depreciation Depreciation Expense Year Annual Depreciationx 2016 2017 Fraction of Year Diaz Company owns a milling machine that cost $125,100 and has accumulated depreciation of $92,600. 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 $17,200 cash 3. Diaz sold the machine for $32,500 cash. 4. Diaz sold the machine for $40,300 cash. View transaction list Journal entry worksheet 2 4 Record the disposal of the machine receiving nothing in return Note: Enter debits before credits. Date General Journal Debit Credit Jan 03 Record entry Clear entry View general journmal Journal entry worksheet 4 Record the sale of the machine for $17,200 cash. Note: Enter debits before credits. Date General Journal Debit Credit Jan 03 Record entry Clear entry View general journal Journal entry worksheet 4 Record the sale of the machine for $32,500 cash. Note: Enter debits before credits Date General Journal Debit Credit Jan 03 Record entry Clear entry View general journal Journal entry worksheet 4 Record the sale of the machine for $40,300 cash. Note: Enter debits before credits. Date General Journal Debit Credit Jan 03 Record entry Clear entry View general journal