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Barbier Company owns equipment that cost $100,000 when purchased on January 1, 2015. It has been depreciated using the straight-line method based on estimated residual value of $16,000 and a Prepare Barbier Company's journal entries to record the sale of the equipment in the following fou 1. Sold the machine for you 2. Sold the machine for $36,000 cash after five years. E 10-21 Accounting for Disposal of Equipment LOS estimated useful life of 5 years. Required: 20 610-22 LOS independent situations. 1. Sold for $56,000 on January 1, 2018. 2. Sold for $56,000 on May 1, 2018. 3. Sold for $22,000 on January 1, 2018. 4. Sold for $22,000 on October 1, 2018. Disposal of Assets Interche Company owns a milling machine that cost $250,000 and has accumulated depreciation $182,000. Prepare the entry to record the disposal of the milling machine on January 5 under each the following independent situations. 1. The machine needed extensive repairs, and it was not worth repairing Interche disposed of the machine, receiving nothing in return. 2. Interche sold the machine for $35,000 cash. 3. Interche sold the machine for $68,000 cash. 4. Interche sold the machine for $80,000 cash