During the current year, Rayon Corporation disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following Original Cost Machine A $69,000 $12,000 Accumulated Depreciation (straight-line) Estimated Residual Value Life 9 years 7 years Asset $38,000 (6 years) Machine B 15,100 2,500 9,000 (5 years) The machines were disposed of in the following ways a. Machine A: Sold on January 2, for $34,400 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 transactionlevent, select "No Journal Entry Required" in the first account field.)