Diaz Company owns a miling machine that cost $125,900 and has accumulated depreciation of $94,500. Prepare the entry to record the disposal of the miling machine on January 3 under each of the situations 1. The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receving nothing in return 2. Diaz sold the machine for $16,000 cash 3. Diaz sold the machine for $31.400 cash 4. Diaz sold the machine for $40,200 cash