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Diaz Company owns a machine that cost $126,800 and has accumulated depreciation of $93,600. Prepare...

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Accounting

Diaz Company owns a machine that cost $126,800 and has accumulated depreciation of $93,600. Prepare the entry to record the disposal of the machine on January 1 in each seperate 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 $15,900 cash.
  3. Diaz sold the machine for $33,200 cash.
  4. Diaz sold the machine for $41,400 cash.

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Journal entry worksheet

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