CI CP9-2 (Algo) Recording and Interpreting the Disposal of Long-Lived Assets [LO 9-5) 11 During the current year, Martinez Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following Original accumulated Depreciation Asset Cost Residual value Estimated Life straight-line) Machine A $79,700 $5,600 15 years 564,220 (13 years) Machine B 23,500 2,700 8 year's 15,600 (6 years) The machines were disposed of in the following ways a Machine A Sold on January 2 for $23,500 cash b Machine B on January 2, this machine was scrapped with zero proceeds and tero cost of removal) Machine A: Sold on January 2 for $23,500 cash. Record the transaction. Note: Enter debits before credits Date General Journal Debit Credit January 02 Journal entry worksheet