Ly Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: Accumulated Estimated Life Original Cost Residual Depreciation (straight-line) $24,240 (4 years) 48,400 (11 years) Asset Value $34,000 66,200 Machine A $3,700 4,600 5 years 14 years Machine B The 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 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.) Journal entry worksheet > K 3 1 Record the current year depreciation for Machine A prior to disposal. Note: Enter debits before credits. Date General Journal Debit Credit Cash January 01 Accumulated Amortization Record entry View general journal Clear entry Machine A: Sold on January 1 for $10,200 cash. Record the transaction. Note: Enter debits before credits. General Journal Date Debit Credit January 01 Record entry Clear entry View general journal 2 3 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 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 Date Debit Credit January 01 et