13 12 points PB9-2 (Algo) Recording and Interpreting the Disposal of Long-Lived Assets [LO 9-5] During the current year, Rayon Corporation disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: Estinated Life Accumulated Depreciation Asset Machine A Original Cost $54,000 Machine B 16,000 Residual Value $12,800 2,800 6 years (straight-line) $20,600 (3 years) 4 years 6,600 (2 years) eBook Prim The machines were disposed of in the following ways: a. Machine A: Sold on January 2, for $35,300 cash. b. Machine B: On January 2, this machine was scrapped with zero proceeds (and zero cost of removal). Required: 1.&2. Prepare the journal entries related to the disposal of Machine A and Machine B on January 2 of the current year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 34 Record the current year depreciation for Machine A prior to disposal. Note: Enter dabits before credits Date January 02 General Journal Debit Credit Record entry Clear entry View general journal