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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 Estimated Accumulated Depreciation Asset Cost Value Life (straight-line) Machine A $42,000 $4,900 5 years $29,680 (4 years) Machine B 78,200 5,600 15 years $58,680 (12 years) The machines were disposed of in the following ways: a. Machine A Sold on January 1 for $13.000 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. (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 eBook Print Machine A: Sold on January 1 for $13,000 cash. Record the transaction. Note: Enter debits before credits. General Journal Debit Date January 01 Credit Record entry Clear entry View general journal Mc Journal entry worksheet 1 2 3 4 Record the current year depreciation for Machine B prior to disposal. Note: Enter debits before credits. General Journal Debit Credit Date January 01 Record entry Clear entry View general Journal Journal entry worksheet