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 A $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, 2016, 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 1 2 3 4 5 6 > Record depreciation expense of machine A. Note: Enter debits before credits. General Journal Debit Credit Date Jan 1, 2018 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 > Record depre No journal entry required Accumulated depreciation, machine A Accumulated depreciation, machine B Accumulated depreciation, machine C Note: Enter debit: Debit Credit Date Jan. 1, 2018 Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 4 5 09 6 > 3 Cash Record depre Depreciation expense Equipment - Machine A Equipment - Machine B Equipment - Machine C Cain on dicnocal of machina Note: Enter debit: Debit Credit Date Jan. 1, 2018 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record depre 3 4 5 6 Equipment - Machine B Equipment - Machine C Gain on disposal of machine Loss on disposal of machine Note receivable Note: Enter debit Debit Credit Date Jan. 1, 2018 Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 3 4 5 6 > N Record disposal of machine A. Note: Enter debits before credits. General Journal Debit Credit Date Jan 1, 2018 Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 N 2 3 4 5 6 > Record depreciation expense of machine B. Note: Enter debits before credits. General Journal Debit Credit Date Apr. 1. 2018 Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 3 4 5 6 > N Record disposal of machine B. Note: Enter debits before credits. General Journal Debit Credit Date Apr 1, 2018 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record depreciation expense of machine C. Note: Enter debits before credits. General Journal Debit Credit Date Jul. 2. 2018 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record disposal of machine C. Note: Enter debits before credits. General Journal Debit Credit Date Jul. 2, 2018 Record entry Clear entry View general journal