Diaz Company owns a machine that cost $126,900 and has accumulated depreciation of $94,800. 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 $15,800 cash. 3. Diaz sold the machine for $32,100 cash. 4. Diaz sold the machine for $40,600 cash.