Cost Purchase date 5. Winningham Company sold the following two machines in 2002: (15 Marks) Machine B $60,000 1/1/99 Machine A $84,000 7/1/98 Useful life Residual value 8 years $4,000 5 years $3,000 Amortization method Straight-line Double declining-balance Date sold Sales price 7/1/02 $37,000 8/1/02 $12,000 Journalize all entries required to update amortization and record the sales of the two assets in 2002. The company has recorded amortization on the machine through December 31, 2001. Show all calculations