b

During the current year, Martinez Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: The machines were disposed of in the following ways: a. Machine A: Sold on January 2 for $27,500 cash. b. Machine B: On January 2, this machine was scrapped with zero proceeds (and zero cost of removal). Required: 1. 8 2. Prepare the journal entries related to the disposal of Machine A and B on the January 2 of the current yeat. Tip: When no cash is received on disposal, the loss on disposal will equal the book value of the asset at the time of disposal. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Machine A: Sold on January 2 for $27,500 cash. Record the transaction. Note: Enter debits before credits. Machine B: On January 2 , this machine was scrapped with zero proceeds (and zero cost of removal). Record the transaction. Note: Enter debits before credits