Diaz Company owns a machine that cost $126,900 and has accumulated depreciation of $93,000. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. Diaz sold the machine for $16,500 cash. Diaz sold the machine for $33,700 cash. Diaz sold the machine for $41,300 cash.

• 1 Record the disposal of the machine receiving nothing in return.

• 2 Record the sale of the machine for $16,500 cash.

• 3 Record the sale of the machine for $33,700 cash.

• 4 Record the sale of the machine for $41,300 cash.

Answer rating: 100% (QA)

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