During the current year, Martinez Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: Asset Machine A Machine B Original Cost $76,700 20,500 Residual Value $4,300 2,100 Estimated Life 15 years 8 years Accumulated Depreciation (straight- l ine) $62,747 (13 years) 13,800 (6 years) The machines were disposed of in the following ways: a. Machine A Sold on January 2 for $20,500 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 tilf no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)