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: Asset Machine A Machine B Original Cost $34,000 63,200 Residual Value $3,400 3,700 Accumulated Depreciation Estimated Life (straight-line) 5 years $24,480 (4 years) 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 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 Machine A: Sold on January 1 for $9,800 cash. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Date January 01 Record entry Clear entry View general journal Journal entry worksheet