10 Part 1 of 2 10 points Required information [The following information applies to the questions displayed below.] During the current year, Merkley Company disposed of three different assets. On January 1 of the current year, prior to the disposal of the assets, the accounts reflected the following: Original Cost Residual Value Estimated Life Book Asset Machine A Machine B Machine C $ 42,000 $ 3,000 8 years 65,000 76,500 4,000 5,300 10 years 17 years Print References Accumulated Depreciation (straight line) $29,250 (6 years) 48,800 (8 years) 50,259 (12 years) The machines were disposed of during the current year in the following ways: a. Machine A: Sold on January 1 for $12,250 cash. b. Machine B: Sold on December 31 for $10,800; received cash, $2,000, and a $8,800 interest-bearing (12 percent) note receivable due at the end of 12 months. c. Machine C: On January 1, this machine suffered irreparable damage from an accident. On January 10, a salvage company removed the machine at no cost. Mc Required: 1. Give all journal entries related to the disposal of each machine in the current year. a. Machine A b. Machine B.