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

Asset Original Cost Residual Value Estimated Life Accumulated Depreciation $($straight$-$line$)$

Machine A $$69,000$ $$12,0009$ years $$38,000(6$ years$)$

Machine B $15,1002,5007$ years $9,000(5$ years$)$

The machines were disposed of in the following ways:

Machine A: Sold on January $2,$ for $$34,400$ cash.

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.$)$