PA9-2 (Algo) Recording and Interpreting the Disposal of Long-Llved Assets [LO 9-5) Ly Company disposed of two different assets On January 1. prior to their disposal, the accounts reflected the following: Original Accumulated Depreciation Asset COS Residual Value Estimated Life (straight-ne $99,000 $4,500 $28.750 (5 years) Machine B 75,200 5,900 14 years $$4,458 (3 years) The machines were disposed of in the following ways: Machine A 6 years a. Machine A Sold on January 1 for $11,000 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 of no entry is required for a transaction/event, select "No Journal Entry Requlred in the first account field.) Journal entry worksheet