Diaz Company owns a machine that cost $125,900 and has accumulated depreciation of $91,500. Prepare the...

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Diaz Company owns a machine that cost $125,900 and has accumulated depreciation of $91,500. Prepare the entry to record the disposal of the machine on January 1 in each separate situation, 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $16,200 cash. 3. Diaz sold the machine for $34,400 cash 4. Diaz sold the machine for $41,200 cash. Diaz Company owns a machine that cost $125,900 and has accumulated depreciation of $91,500. Prepare the entry to record the disposal of the machine on January 1 in each separate situation, 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $16,200 cash. 3. Diaz sold the machine for $34,400 cash 4. Diaz sold the machine for $41,200 cash.

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Disposal Journal Entries for Diaz Company Machine Well record the disposal of the machine for each s... View the full answer