ly company disposed of two different assets. On January 1, prior to their disposal, the accounts reflect the following

original residual accumulated depreciation

asset cost value estimated life (straight-line)

machine A 42000 4900 5 years 29680 (4 years)

machine b 78200 5600 15 years 58080 (12 years)

The machines were disposed of in the following ways

a. machine A: sold on January 1 for 13000 cash

b. Machine B: on January 1, this machine was sold to a salvage company at zero proceeds ( abs 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