Diaz Company owns a milling machine that cost 126,400
#0183;#32;Diaz Company owns a milling machine that cost 126,400 and has accumulated depreciation of 92,200. 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.