PA9-2 (Algo) Recording and Interpreting the Disposal of Long-Lived Assets [LO 9-5] Ly Company disposed of two different assets, On January 1, prior to their disposal, the accounts reflected the following: The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $12,000 cash. b. Machine B: On January 1, this machine was scrapped with zero proceeds (and zero cost of remova). 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 4 Record the current year depreciation for Machine A prior to disposal. Note: Enter debits before credits: Journal entry worksheet 4 Machine A: Sold on January 1 for $12,000 cash. Record the transaction. Note: Enter debits before credits. Journal entry worksheet Record the current year depreciation for Machine B prior to disposal. Note: Enter debits before credits. Journal entry worksheet 2 Machine B: On January 1, this machine was scrapped with zero proceeds (and zero cost of removal). Record the transaction. Note: Enter debits before credits