Asset Machine A Machine B Original Cost $31,000 60,200 $3,100 3,500 Residual Value Estimated Life 6 years 15 years The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $8,700 cash. Accumulated Depreciation (straight-line) $23,250 (5 years) $45,360 (12 years) b. Machine B: On January 1, 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 B at the beginning 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 3 4 Record the current year depreciation for Machine A prior to disposal. Note: Enter debits before credits. Date January 01 General Journal Debit Credit Record entry Clear entry View general journal