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Ly Company disposed of two different assets. On January 1, prior to their disposal , the accounts reflected the following: Original Residual Accumulated Depreciation Asset Cost Value Estimated Life (straight-line) Machine A $34,000 $3,400 5 years $24,480 (4 years) Machine B 63,200 14 years 46,750 (11 years) 3,700 The machines were disposed of in the following ways: a Machine A Sold on January 1 for $9.800 cash. 5. Machine B; On January 1, this machine was sold to a salvage companyat 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.) 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 Journal entry worksheet 2 Record the current year depredation for Machine A prior to disposal. Notente abits before credits General Journal Dobit Credit Date January 01 Journal entry worksheet Machine A: Sold on January 1 for $9,800 cash. Record the transaction. Note: Enter debits before credits IN General Journal Debit Credit Date January 01 Record entsy Clear entry View general journal View transaction list Journal entry worksheet