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

$\backslash$table$[[,,,,],[$Asset$,$Original cost Residual value,Estimated,$\backslash$table$[[$Accumulated$],[$Depreciation$],[($straight$-$line$)]],],[$Machine A$,$$$67,000,$$$11,800,$s years,$$34,500(5$ years$)],[$Machine B$,14,900,2,450,6$ years,$8,300(4$ years$)]]$

The machines were disposed of in the following ways:

a$.$ Machine A: Sold on January $2,$ for $$34,600$ 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.$)$

Journal entry worksheet

$1,2,34$

Record the disposal of Machine $B.$

Note: Enter debits before credits.

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$P$

$F$

Record the current year depreciation for Machine A prior to disposal.

Record the disposal of Machine A$.$

Record the current year depreciation for Machine B prior to disposal.

Record the disposal of Machine B$.$

Information must be filled in the Journal Entry Worksheet.

$Ln9,$Col$1$

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