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 $41,000 77,200 Residual Value $4,700 5,100 Accumulated Depreciation Estimated Life (straight-line) 6 years $30,250 (5 years) 14 years 56,650 (11 years) The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $11,200 cash. b. Machine B: On January 1, this machine was sold to a salvage company at 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 Journal entry worksheet 1 2 3 4 > Record the current year depreciation for Machine A prior to disposal. Note: Enter debits before credits. Journal entry worksheet Machine A: Sold on January 1 for $11,200 cash. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Date January 01 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 > Record the current year depreciation for Machine B prior to disposal. Note: Enter debits before credits. General Journal Debit Credit Date January 01 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 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. Note: Enter debits before credits. General Journal Debit Credit Date January 01 Record entry Clear entry View general journal