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Diaz Company owns a milling machine that cost $125,500 and has accumulated depreciation of $93,300. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations. 1. The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return 2. Diaz sold the machine for $16,100 cash. 3. Diaz sold the machine for $32,200 cash. 4. Diaz sold the machine for $41,800 cash. View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 Jan 03 93,300 Accumulated depreciation-Milling machine Loss on disposal of milling machine Milling machine 32,200 125,500 2 Jan 03 Cash 16,100 Accumulated depreciation-Milling machine Loss on sale of milling machine Milling machine 93,300 16,100 125.500 3 Jan 03 Cash 32,200 93,300 Accumulated depreciationMilling machine Milling machine 125,500 4 Jan 03 Cash 41,800 93,300 Accumulated depreciation-Milling machine Gain on sale of milling machine Milling machine 9,600 125,500