Ly Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: Accumulated Depreciation Original Cost $34,000 Estimated Life (straight-line) $24,240 (4 years) 66,200 $48,400 (11 years) The machines were disposed of in the following ways: Asset Machine A Machine B a. Machine A: Sold on January 1 for $10,200 cash. b. Machine B: On January 1, this machine was scrapped with zero proceeds (and zero cost of removal). View transaction list Required: 1. & 2. Prepare the journal entries related to the disposal of Machine required for a transaction/event, select "No Journal Entry Required" in the first account field.) and B at the beginning of the current year. (If no entry is Residual Value $3,700 4,600 Journal entry worksheet 1 2 3 5 years 14 years 4 Record the current year depreciation for Machine A prior to disposal.

Ly Company disposed of two different assets. On January 1, prior to their dienneal the eflected the following: Ine machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $10,200 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.)