ly Company disposed of two different assets. On January 1, prior to disposal of the assets, the accounts reflected the following Aated Original Residual Estimated Depreciation Auset cost Valo Life (strainine) Machine $23,250 $3,500 5 years $20,6 years) Machines 5,200 3.950 15 years 61.750 years The machines were disposed of in the following ways a. Machine A: This machine was sold on January 1for $7700 cash b. Machine B: On January 1, this machine suffered irreparable damage from an accident and was removed immediately by a salvage company at no cost Required: 1. Prepare the journal entries related to the disposal of each machine at the beginning of the current year. Transaction "a' relates to the recording of the depreciation and transaction relates to the recording of the disposal of the machine. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field) Machine A Jon 1 View transaction list Journal entry worksheet 1 2 View transaction list Journal entry worksheet 2 Record the entry for depreciation expense. Note: Enter debits before credits. Transaction General Journal Debit Credit a Record entry Clear entry View general journal View transaction list Journal entry worksheet