Ly Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following Accumulate Depreciation (straight-line) Original Residual Estimated Life 5years 12 years CostValue Asset Machine $43,000 %5,000 Machine 79,200 $ 30,400 (4 years) 5,400 55,350 (9 years) 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 sold to a salvage company at 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 required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list 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.) View transaction list Journal entry worksheet Record the current year depreciation for Machine A prior to disposal. es Note: Enter debits before credits. Debit Credit Date General Journal January 01 Record entry Clear entry View general journal 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.) View transaction Journal entry worksheet Machine A: Sold on January 1 for $13,500 cash. Record the transaction. es Note: Enter debits before credits. Date General Journal Debit c Credit anuary 01 Record entry Clear entry View general journal 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.) View transaction list Journal entry worksheet Record the current year depreciation for Machine B prior to disposal. es Note: Enter debits before credits. General Journal Debit Credit Date January 01 Record entry Clear entry View general journal Prev2 of 3 Next > 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.) ped View transaction list ok Journal entry worksheet Machine B: On January 1, this machine suffered irreparable damage from an accident and was removed immediately by a salvage company at no cost. Record the transaction. nces Note: Enter debits before credits. Date General Journal DebitCredit January 01 Record entry Clear entry View general journal