Ly Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: Asset Machine Machine B Original Cost $37,000 73,200 Residual Value $4,000 5,300 Estimated Life 6 years 14 years Accumulated Depreciation (straight-line) $27,500 (5 years) 53,350 (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 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.) Journal entry worksheet Record the current year depreciation for Machine A prior to disposal. Note: Enter debits before credits General Journal Date January 01 Debit Credit Record entry Clear entry View general Journal Journal entry worksheet