Q.3. In 2017, Global Millwrights purchased a milling machine for #40,000, debiting Milling equipment. During 2017, Global recorded total amortization of $20,000 on the machine. In October 2019, Global traded in the machine for a new one with a fair market value of $45,200, paying $22,700 cash. Journalize exchange of machine transactions on October 15, 2019. (5 Marks) Q.3. In 2017, Global Millwrights purchased a milling machine for #40,000, debiting Milling equipment. During 2017, Global recorded total amortization of $20,000 on the machine. In October 2019, Global traded in the machine for a new one with a fair market value of $45,200, paying $22,700 cash. Journalize exchange of machine transactions on October 15, 2019. (5 Marks) 5