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: Original Residual Accumulated Depreciation Asset Value Estimated Life (straight-line) Machine A $33,000 $3,300 6 years $24,750 (5 years) Machine B 62,200 3,400 15 years 47,040 ( 12 years) Cost The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $9,100 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.) View transaction list 1 Record the current year depreciation for Machine A prior to disposal. 2 Machine A: Sold on January 1 for $9,100 cash. Record the transaction 3 Record the current year depreciation for Machine B prior to disposal. bit Credit 4 Machine B: On January 1, this machine suffered irreparable damage from an accident and was removed immediately by a salvage company at no cost. Record the transaction