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 Cost Value Life (straight-line) Machine A $34,000 $3,400 5 years $24, 480 (4 years) Machine B 63,200 3,700 14 years 46,750 (11 years) The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $9,800 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 View transaction list Journal entry worksheet Machine A: Sold on January 1 for $9,800 cash. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Date January 01 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the current year depreciation for Machine B prior to disposal. Note: Enter debits before credits. Date General Journal Debit Credit January 01 Record entry Clear entry View general journal View transaction list Journal entry worksheet