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Ly Company disposed of two different assets. On January 1. prior to their disposal, the accounts reflected the following: Accumulated Original Residual Estimated Depreciation Asset

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Ly Company disposed of two different assets. On January 1. prior to their disposal, the accounts reflected the following: Accumulated Original Residual Estimated Depreciation Asset Cont Value Dife (straight-line) Machine a $33,000 $4,000 4 years $21,750 (3 years) Machine 1 69,200 3,800 15 years 52,320 (12 years) The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $11,800 cash. b. Machine B: On January 1, this machine was sold to a salvage company at zero proceeds fand zero cost of removal). 1 Record the current year depreciation for Machine A prior to disposal. 2 Machine A: Sold on January 1 for $11,800 cash. Record the transaction. 3 Record the current year depreciation for Machine B prior to disposal. bit 4 Machine B: On January 1, this machine suffered irreparable damage from an accident and was removed immediately by a salvage company at no cost. Record the transaction

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