On January 2, Bering Company disposes of a machine costing $57,600 with accumulated depreciation of $31,029. Prepare the entries to record the disposal under each separate situation. 1. The machine is...

Extracted text: On January 2, Bering Company disposes of a machine costing $57,600 with accumulated depreciation of $31,029. Prepare the entries to record the disposal under each separate situation. 1. The machine is sold for $22,285 cash. 2. The machine is traded in for a new machine having a $74,100 cash price. A $27,428 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance. 3. The machine is traded in for a new machine having a $74,100 cash price. A $20,571 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 The machine is sold for $22,285 cash. View transaction list Journal entry worksheet Record the sale of the machine for $22,285 cash. Required 1 Required 2 Required 3 The machine is sold for $22,285 cash. View transaction list Journal entry worksheet 1 Record the sale of the machine for $22,285 cash. Note: Enter debits before credits. General Jourmal Debit Credit Date January 02 Clear antru View general journal www.n Required 1 Required 2 Required 3 The machine is traded in for a new machine having a $74,100 cash price. A $27,428 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance. View transaction list Journal entry worksheet Record the exchange assuming that the exchange has commercial substance. Note: Enter debits before credits. HT Date General Journal Debit Credit Nico January 02 Required 1 Required 2 Required 3 The machine is traded in for a new machine having a $74,100 cash price. A $20,571 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance. View transaction list Journal entry worksheet Record the exchange assuming that the exchange has commercial substance. Note: Enter debits before credits. Debit Credit General Journal Date January 02