Ly Company disposed of two different assets. On January 1 prior to disposal of the assets, the accounts retected the following Asset Machine A Machine B Original Cost $24,000 59,200 Residual Value $ 2,000 3,200 Estimated Life 5 years 14 years Accumulated Depreciation (straine) 517,500 (4 years) 48,000 (12 years) The machines were disposed of in the following ways a Machine A: This machine was sold on January 1 for $5,750 cash. b Machine B on January 1, this machine suffered irreparable damage from an accident and was removed immediately by a salvacy company at no cost. Required: 1. Prepare the journal entries related to the disposal of each machine at the beginning of the current yen Transactions relates to the recording of the depreciation, and transaction "b" relates to the recording of the disposal of the machine. Of no entry is required for transaction/event, select "No journal entry required" in the first account field) Machine A - Jan 1 View transaction list Machine B - January 1: View transaction list A i 1 Record the depreciation expense. 2 Record the entry for disposal of Machine B. Required: 1. Prepare the journal entries related to the disposal of each machine at the beginning of the camery recording of the depreciation and transaction relates to the recording of the dispose of the most transaction/event, select "No journal entry required in the first account field) Machine A - Jan 1 5 View transaction list + cos > 1 Record the depreciation expense. 2 Record the entry for disposal of Machine A Credi