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 nal Cost $83,200 27,000 Residual Value $8,400 3,400 Estimated Life 15 years 8 years Accumulated Depreciation (straight-line) $64,827 (13 years) 17,700 (6 years) The machines were disposed of in the following ways: a. Machine A: Sold on January 2 for $27,000 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.) View transaction list Journal entry worksheet Record the disposal of Machine A for $27,000 cash on January 2, 2014. Note: Enter debits before credits. Date General Journal Debit Credit Jan 02 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the disposal of Machine B due to irreparable damage from an accident. Note: Enter debits before credits. General Journal Debit Credit Date Jan 02 Record entry Clear entry View general journal