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Prepare the entry to record the disposal of the machine

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Question - Diaz Company owns a machine that cost $125,800 and has accumulated depreciation of $94,800. 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 $16,600 cash.

-Diaz sold the machine for $31,000 cash.

-Diaz sold the machine for $41,500 cash.

Reference no: EM132926493

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