Ly Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: Asset Original Cost Residual Value Estimated Life Accumulated Depreciation (straight-line) Machine A $ 34,000 $ 4,100 5 years $ 23,920 (4 years) Machine B 70,200 4,400 14 years 51,700 (11 years) The machines were disposed of in the following ways: Machine A: Sold on January 1 for $10,400 cash. 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.)