Ly Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: OriginalResidual Estimated Life 5 years 14 years Cost Asset Machine A $34,000 Machine B 63,200 Value $3,400 3,700 (straight-line) 24,480 (4 years) 46,750 (11 years) The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $9,800 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 entry related to the disposal of Machine A and B at the beginning of the current year. (If no entry is required for a transactionevent, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 Record the current year depreciation for Machine B prior to disposal. Note: Enter debits before credits. Date Debit Credit January 01 Record entry Clear entry View general journal