During the current year, Rayon Corporation disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following:

Accumulated Depreciation (straight-line) Original Residual Estimated Value Machine A $63,000 $11,300 2,150 Life 6 years 5 years Asset Cost $25,850 (3 years) Machine B 14,500 7,410 (3 years) The machines were disposed of in the following ways: a. Machine A: Sold on January 2, for $39,000 cash. b. Machine B: On January 2, this machine suffered irreparable damage from an accident and was removed immediately by a salvage company at no cost Required: 1&2. Give the journal entries related to the disposal of Machine A and Machine B on January 2 of the current year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list X: 1 Record the current year depreciation for Machine A prior to disposal 2 Record the disposal of Machine A 3 Record the current year depreciation for Machine B prior to disposal 4 Record the disposal of Machine B. Credit