Ly Com pany disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: Accumulat Depreciation (straight-line) $28,240 (4 years) 53,100 (9 years) Original Residual Estimated Value Asset Machine A $40,000 $4,700 Machine B 76,200 Life 5 years 12 years Cost 5, 400 The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $12,000 cash. 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. & 2. Prepare the journal entries related to the disposal of Machine A and B at the beginning of the current year (f no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.)