During the current year, Rayon Corporation disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: Accumulated Asset Cost Original Residual Estimated Depreciation Value Life (straight-line) Machine A $52,000 $13,500 7 years Machine B 16,200 2,900 5 years $22,000 (4 years) 7,980 (3 years) The machines were disposed of in the following ways: a. Machine A: Sold on January 2, for $35,500 cash. b. Machine B: On January 2, this machine was scrapped with zero proceeds (and zero cost of removal). Required: 1.&2. Prepare 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.)