hw q8

Ly Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $13,500 cash. b. Machine B: On January 1, 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 B at the beginning 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 Journal entry worksheet Record the current year debreciation for Machine A prior to disposal. Note: Enter debits before credits. Journal entry worksheet Machine A: Sold on January 1 for $13,500 cash. Record the transaction. Note: Enter debits before credits. Journal entry worksheet 1 Record the current year depreciation for Machine B prior to disposal. Note: Enter debits before credits. Journal entry worksheet 1 Machine B: On January 1 , this machine was scrapped with zero proceeds (and zero cost of removal). Record the transaction. Note: Enter debits before credits