! Required information (The following information applies to the questions displayed below.] During the current year, Merkley Company disposed of three different assets. On January 1 of the current year, prior to the disposal of the assets, the accounts reflected the following: Asset Machine A Machine B Machine C Original Cost $ 27,000 49,000 76,200 Residual Value $ 3,000 4,000 6,100 Estimated Life 8 years 10 years 17 years Accumulated Depreciation (straight line) $18,000 (6 years) 36,000 (8 years) 49,482 (12 years) The machines were disposed of during the current year in the following ways: a. Machine A: Sold on January 1 for $8,600 cash. b. Machine B: Sold on December 31 for $9,200; received cash, $2,200, and a $7,000 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. Required: 1. Give all journal entries related to the disposal of each machine in the current year. a. Machine A. b. Machine B. c. Machine C. X Answer is not complete. Complete the following questions by preparing worksheet and journal entries given below. Required A Required B Required C Give all journal entries related to the disposal of Machine A in the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction General Journal Debit Credit A January 01 No journal entry required B January 01 400 Loss on disposal of machine Cash 8,600 Answer is not complete. Complete the following questions by preparing worksheet and journal entries given below. Required A Required B Required c Give all journal entries related to the disposal of Machine B in the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction General Journal Debit Credit December 31 Depreciation expense Accumulated depreciation, Machine B 3,600 40,000 B December 31 Note receivable 7,000 2,200 Cash Answer is not complete. Complete the following questions by preparing worksheet and journal entries given below. Required A Required B Required C Give all journal entries related to the disposal of Machine C in the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction General Journal Debit Credit January 01 No journal entry required B January 01 26,718 Loss on disposal of machine Equipment (Machine C)