Check my work During the current year, Martinez Company disposed of two different assets On January 1, prior to their disposal, the accounts reflected the following Accumulated Depreciation (straight-1ine) Original Residual Estimated Cost Value Machine A $79,200 $5, 500 Machine B 23,000 2,600 Asset Life 15 years 63,873 (13 years) 8 years 15,300 (6 years) The machines were disposed of in the following ways a Machine A: Sold on January 2 for $23,000 cash. b Machine B: On January 2, this machine was sold to a salvage company at zero proceeds (and zero cost of removal). Required: 1.& 2. Prepare the journal entries related to the disposal of Machine A and B on the January 2 of the current year 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 (lf no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) K Prev 2 of 10! Next >