During the current year, Merkley Company disposed of three different assets. On January 1 of the current year, prior to the disposal of the assets, the accounts reflected the following: Accumulated Depreciation straight line) $30,000 (10 years) 55,200 (8 years) 52,275 (12 years) Original Residual Estimated Life Value Asset Cost Machine A $39,000 73,000 76,600 $3,000 4,000 6,900 12 years 10 years 16 years achine B achine C The machines were disposed of during the current year in the following ways: a. Machine A: Sold on January 1 for $8,500 cash. b. Machine B: Sold on December 31 for $11,400; received cash, $2,300, and a $9,100 interest-bearing (12 percent) note receivable due at the end of 12 months. c. Machine C: On January 1, this machine suffered irreparable damage from an accident. On January 10, a salvage company removed the machine at no cost Required: 1. Give all journal entries related to the disposal of each machine in the current year. a. Machine A b. Machine B c. Machine C Complete the following questions by preparing worksheet and journal entries given below. Required A Required B Required C Give all journal entries related to the disposal of Machine A in the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Transaction No General Journal Debit Credit 8,500X January 01 A Cash Accumulated depreciation, Machine A 30,000 X Loss on disposal of machine 500 Equipment (Machine A) 39,000 Complete the following questions by preparing worksheet and journal entries given below. Required A Required C Required B Give all journal entries related to the disposal of Machine B in the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Debit No Transaction General Journal Credit Depreciation expense 6,900 A December 31 Accumulated depreciation, Machine B 6,900 B Cash 2,300 December 31 9,100 Note receivable Accumulated depreciation, Machine B 62,100 Gain on disposal of machine 500 73,000 Equipment (Machine B) Complete the following questions by preparing worksheet and journal entries given below. Required A Required B Required C Give all journal entries related to the disposal of Machine C in the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction General Journal Debit Credit January 01 A Accumulated depreciation, Machine C 52,275 Loss on disposal of machine 24,325 Equipment (Machine C) 76,000