During the current year, a company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the ollowing: Asset Machine A Machine B Original Residual Cost Value $84,700 $9,600 28,500 3,700 Estimated Life 15 years 8 years Accumulated Depreciation (straight-line) $65,087 (13 years) 18,600 (6 years) The machines were disposed of in the following ways: a. Machine A: Sold on January 2 for $28.500 cash b. Machine B: On January 2, this machine was sold to a salvage company at zero proceeds (and zero cost of removal). Required: 1. & 2. Prepare the journal entries related to the disposal of Machine A and B on the January 2 of the current year. TIP: When no cash is received on disposal, the loss on disposal will equal the book value of the asset at the time of disposal (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.)