P8-6 Recording and Interpreting the Disposal of Three Long-Lived Assets LO8-3, 8-5 The following information applies to the questions displayed below) During the current year, Merkley Company disposed of three different assets. On January 1 of the current year, prior to their disposal, the accounts reflected the following Accumulated Onginn Resdal Estimated Depreciation Cout Valve Life tracht line Machine A $ 39.000 3.000 8 years 27000 16 years Machine 45.000 4000 10 years 32 800 (8 years Machine 75.300 6600 10 years 51,525 12 vers The machines were disposed of in the foliowing ways & Machine A Sold on January 1for $11.500 cash b. Machine B Sold on December 31 for $8.900 received cash $2200, and 8 $6.700 treening 2 percent note recevable due at the end of 12 months Machine C On January 1, this machine suffered irreparable damage from an accident On Bonuary 10, avage company removed the machine or no cost References Section Break 5 Records The Long 13. 10.00 points P9-6 Part 1 Ragare th O E yenere to search P8-6 Part 1 Required: 1. Give a journal entries related to the disposal of each machine in the current year it no entry is required for a transaction event, select "No journal entry required in the first account held a. Machine View transaction list Journal entry worksheet 1 Record the disposal of Machine A Nettre de conced Gamal Colt gerere to search b. Machine B View transaction list Journal entry worksheet Record the depreciation of Machine B. Note Enter debits before credits Transact 1 General Debit Credit Recondent Clear entry we ganal nan chinec Journal entry worksheet AH i O Aenere to search hp Machine C View transaction ist Journal entry worksheet Record the disposal of Machine C Titter det before Transaction 1 General Journal Credit Record entry Chan View all References BOOK & Resources General Journal PS- Part 1 Type here to search o BRE (hp Check my work 14. 10.00 points P8-6 Part 2 2. Explain the accounting rationale for the way that you recorded each disposal Machine A Disposal of a long deset with the price below book valberesul Machine Dlsposal of a long lived asset with the price bosbook Vale Machine Depoul of a long ved asset to damage remaining book valun References Book Resources Worksheet Type here to O hp