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Recoramg and interpreting tne Disposal or Long-uvea Assets [LO 9-5 During 2013, Ly Company disposed of two different assets. On January 1, 2013, prior to
Recoramg and interpreting tne Disposal or Long-uvea Assets [LO 9-5 During 2013, Ly Company disposed of two different assets. On January 1, 2013, prior to their disposal, the accounts reflected the following: The machines were disposed of in the following ways: Machine A: Sold on January 1, 2013, for $9,000 cash. Machine B: On January 1, 2013, this machine suffered irreparable damage from an accident and was removed immediately by a salvage company at no cost. Prepare the journal entries related to the disposal of each machine at the beginning of 2013. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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