Ly Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following Accumulated Depreciation (straight-line) $28,750 (5 years) 54,450 (11 years) Original Residual Estimated Value $4,500 5,900 Life Asset Machine A Machine B Cost $39,000 75,200 6 years 14 years The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $11,000 cash b. Machine B: On January 1, this machine suffered irreparable damage from an accident and was removed immediately by a salvage company at no cost. 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 2 4 Record the current year depreciation for Machine A prior to disposal Note: Enter debits before credits. Date General Journal Debit Credit January 01 Record entry Clear entry View general journal