Questions 9-10(of> 8-6 Recording and Interpreting the Disposel of Three Long-Lived Assets LO8-3, 8-5 The following Information applies to the questions displayed below.] During the current year, Merkley Company disposed of three different assets. On Jenuary 1 of the current year, prior to their disposal, the accounts reflected the following: Original Residual De (straight line) Life Machine A 21,000 $ 3,000 12 years $15,000 (10 years) Machine B 49000 4,000 8 years 33750 (6 years) Machine C 75.200 5.500 16 years 5 75 (2 75,200 5,500 16 years years) The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $5,500 cash. b. Machine B: Sold on December 31 for $10,425; received cash, $2,000, and a $8.425 interest-bearing (12 percent) note receivable due at the end of 12 months. c. Machine C: On January 1, this machine suffered irreparable damage from an accident. On January 10, a salvage company removed the machine at no cost. References l of Three Long-Lived Assets P8-6 Recording and In L08-3,8-5 Section Break value: 1.50 points P8-6 Part 1 P8-6 Part 1 Required 1. Give all journal entries related to the disposal of each machine in the current year.(If no entry is required for a transaction/event, se View transaction list Journal entry worksheet Record the disposal of Machine A. Note: Enter debits before credits. ournal Record entry View general journal Clear entry b. Machine B. View transaction list Journal entry worksheet Record the depreciation of Machine B. Note: Enter debits before credits. Debit Cred Record entry View general journal Clear entry c. Machine C. View transaction list Journal entry worksheet Record the disposal of Machine C. b. B. View transaction list Journal entry worksheet Record the disposal of Machine B. Note: Enter debits before credits Record entry View general journal Clear entry c. Machine C View transaction list Journal entry worksheet Record the disposal of Machine C. Record entry Clear entry are held and used over time