During the current year, Rayon Corporation disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: Asset Machine A Machine B Original Cost $52,000 16,200 Residual Value $13,500 2,900 Estimated Life 7 years 5 years Accumulated Depreciation (straight-line) $ 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 sold to a salvage company at zero proceeds (and zero cost of removal). 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 View journal entry worksheet X Debit Credit 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 View journal entry worksheet :X: Debit Credit 1 Record the current year depreciation for Machine A prior to disposal. 22,000 2 Record the disposal of Machine A. 52,000 3 Record the current year depreciation for Machine B prior to disposal. 4 Record the disposal of Machine B