Lab 9 Chapter 90 Seved 10 4 points Sipped Ly Company disposed of two different assets. On January 1, prior to disposal of the assets, the accounts reflected the following: Asset Machine A Machine B Original Cost $24,000 59.200 Residual Value $2,000 3,200 Estimated Life 5 years 14 years The machines were disposed of in the following ways: Accumulated Depreciation (straight-line) $17,600 (4 years) 48,000 (12 years) a. Machine A: This machine was sold on January 1 for $5,750 cash. +Book Ask Print References b. Machine B: On January 1, this machine suffered irreparable damage from an accident and was removed immediately by a salvage company at no cost. Required: 1. Prepare the journal entries related to the disposal of each machine at the beginning of the current year. Transaction "a" relates to the recording of the depreciation, and transaction "b" relates to the recording of the disposal of the machine. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Machine A - Jan. 1: View transaction list Journal entry worksheet 4 Machine B-January 1: View transaction list Journal entry worksheet Record the depreciation expense. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal