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will vote thumbs up!!! Exercise 10-17 (Algo) Disposal of assets LO P2...

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Accounting

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Exercise 10-17 (Algo) Disposal of assets LO P2 Diaz Company owns a machine that cost $125,200 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 $15,700 cash. 3. Diaz sold the machine for $33,700 cash. 4. Diaz sold the machine for $41,400cash

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