Ly Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: Asset Machine A Machine B Original Cost $42,000 78,200 Residual Value $4,900 5,600 Estimated Life 5 years Accumulated Depreciation (straight-line) $29,680 (4 years) 15 years. $58,080 (12 years) The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $13,000 cash. b. Machine B: On January 1, this machine was scrapped with 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.) 1 2 3 4 Record the current year depreciation for Machine A prior to disposal. Note: Enter debits before credits. Date January 01 General Journal Debit Credit View general journal Record entry Clear entry > Journal entry worksheet < 1 3 4 Machine A: Sold on January 1 for $13,000 cash. Record the transaction. Note: Enter debits before credits. Date January 01 General Journal Debit Credit View general journal Record entry Clear entry > Journal entry worksheet < 1 2 4 Record the current year depreciation for Machine B prior to disposal. Note: Enter debits before credits. Date January 01 General Journal Debit Credit View general journal Record entry Clear entry > Journal entry worksheet 4. < 1 2 3 4 Machine B: On January 1, this machine was scrapped with zero proceeds (and zero cost of removal). Record the transaction. Note: Enter debits before credits. Date January 01 General Journal Debit Credit > Record entry Clear entry View general journal