Ly Company disposed of two different assets. On January 1, prior to their disposal, the accounts...

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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 Residual Value Estimated Life $43,000 79, 200 $5,000 5,400 5 years 12 years Accumulated Depreciation (straight- line) $30,400 (4 years) $55,350 (9 years) The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $13,500 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.) View transaction list View journal entry worksheet No Date General Journal 1 January 01 No Journal Entry Required 2 January 01 Cash Accumulated Depreciation-Equipment 3 January 01 No Journal Entry Required 4 January 01 Accumulated Depreciation-Equipment Loss on Disposal of PPE Debit Credit ( 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 Residual Value Estimated Life $43,000 79, 200 $5,000 5,400 5 years 12 years Accumulated Depreciation (straight- line) $30,400 (4 years) $55,350 (9 years) The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $13,500 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.) View transaction list View journal entry worksheet No Date General Journal 1 January 01 No Journal Entry Required 2 January 01 Cash Accumulated Depreciation-Equipment 3 January 01 No Journal Entry Required 4 January 01 Accumulated Depreciation-Equipment Loss on Disposal of PPE Debit Credit (