During 2018, Ct Company disposed of three different assets. On January 1, 2018, prior to the disposal of the assets, the accounts reflected the following: Accumulated Original Residual Estimated Depreciation (straight Asset Cost Value Life line) Machine $20,000 $2,000 8 years $ 13,500 (6 years) . Machine B 41,000 4,000 10 years 29,600 (8 years) Machine 75,000 3.000 12 years 60,000 (10 years) The machines were disposed of in the following ways: a Machine A: Sold on January 1, 2018, for $7,200 cash. b. Machine B: Sold on April 1, 2018, for $8,500; received cash, $2,500, and a note receivable for $6,000, due on March 31, 2019, plus 6 percent interest. c Machine C: Suffered irreparable damage from an accident on July 2, 2018. On July 10, 2018, a salvage company removed the machine immediately at no cost. The machine was insured, and $18,000 cash was collected from the insurance company. Required: 1. Prepare journal entries related to the depreciation expense and disposal for each machine in 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round the final answer to nearest whole dollar.) View transaction list Journal entry worksheet