Problem 4 Zimmer Company sold the following two machines in 2014 Machine A Machine B Cost $76.000 $80.000 Purchase date 7/1/10 1/1/11 Useful life 8 years 5 years Salvage value $4.000 $4,000 Depreciation method Straight-line Double -declining -balance Date sold 7/1/14 8/1/14 Sales price $35,000 $16,000 Instructions Journalize all entries required to update depreciation and record the sales of the two assets in 2014. The company has recorded depreciation on the machines through December ,2013