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 $33,000 69,200 Accumulated Depreciation Residual Value Estimated Life 4 years (straight-line) $21,750 (3 years) 15 years $52,320 (12 years) $4,000 3,800 The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $11,800 cash. b. Machine B: On January 1, this machine was scrapped with 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.)