PA9-2 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: Accumulated Original Residual Estimated Depreciation Asset Cont Value Life (straight-line) Machine A $34,000 $3,400 5 years $24,480 (4 years) Machines 63,200 3,700 14 years 46,750 (11 years) The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $9,800 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 beginking 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