Diaz Company owns a machine that cost $126,500 and has accumulated depreciation of $91,000. Prepare the entry to record the disposal of the machine on January 1 in each seperate 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 $16,400 cash.
Diaz sold the machine for $35,500 cash.
Diaz sold the machine for $40,400 cash.
