During 2017 Ly Company disposed of two different assets On January 1 2017 prior to disposal of the assets, the accounts reflected the following Accumulated Original Residual Estimated Depreciation Asset Cost Value Life straight-line) Machine A $29,250 $ 3,500 5 years $20.600 (6 years) Machine 75,200 3,950 15 years 61,750 (19 years) The machines were disposed of in the following ways a. Machine A: This machine was sold on January 1, 2017 for $7700 cash b. Machine B: On January 1 2017, this machine suffered irreparable damage from an accident and was removed immediately by a salvage company at no cost Required: 1. Prepare the journal entries related to the disposal of each machine at the beginning of 2017 Transaction relates to the recording of the 2017 depreciation and transaction "b" relates to the recording of the disposal of the machine of no entry is required for a transaction/event, select "No journal entry required in the first account field) Machine A - Jan 1, 2017 View transactions > 1 Record the depreciation expense in 2017 2. Record the entry for Soposal of Machine A, 82 ype here to search Seved Machine B - January 1, 2017 View transaction list Book Print 1 Record the depreciation expense in 2017 2 Record the entry for disposal of Machine B. eferences Credit Note: - Journal entry has been entered Record entry Clearly Wewe una Prev 8 of 10 Next > Type here to search O 52 . 99