Ly Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following Accumulated Depreciation (straight-line) $24,240 (4 years) 48,400 (11 years) Original Residual Estimated Value 3,700 4,600 Cost $34,000 66,200 Life 5 years 14 years Asset Machine A Machine B The machines were disposed of in the following ways a. Machine A: Sold on January 1 for $10,200 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 is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 4 2 Record the current year depreciation for Machine A prior to disposal Note: Enter debits before credits Journal entry worksheet 3 4 2 Record the current year depreciation for Machine A prior to disposal Note: Enter debits before credits. Date General Journal Debit Credit January 01 Record entry Clear entry View general journal Journal entry worksheet 3 4 Machine A: Sold on January 1 for $10,200 cash. Record the transaction. Note: Enter debits before credits. Date General Journal Debit Credit January 01 Record entry Clear entry View general journal Journal entry worksheet 4 2 Record the current year depreciation for Machine B prior to disposal Note: Enter debits before credits. Debit Credit Date General Journal Record entry Clear entry View general journal Journal entry worksheet 4 2 accident and was removed immediately by a salvage company at no cost. Record the transaction. Note: Enter debits before credits. Date General Journal Debit Credit amuy i Record entry Clear entry View general journal