Ly Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following Accumulated Depreciation iginal Residual Cost Value Estimated Life (straight-line) Asset Machine A $35,000 $4,200 Machine B 71,200 5 years 14 years $24,640 (4 years) 52,250 (11 years) 4,700 The machines were disposed of in the following ways a Machine A: Sold on January 1 for $10,900 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. (If no entry is required for a trensection/event, select "No Journal Entry Required" in the first account field)